Shazam offers a highly innovative service where it tracks music and most recently TV shows via the audio recognition functionality, allowing users to directly link out to purchase the song or episode.
The technology fills users with joy when they can’t quite remember the name or title of a song or TV show is now going to be implemented within more than just sounds. The forthcoming extension will work within the existing app, using the same infamous blue button, but will enable consumers to now recognize retail products such as grocery items. Hypothetically speaking, when a participating brand’s pasta sauce is ‘Shazamed,’ the app could reveal information on its heritage, further recipes or additional nutritional facts. It could even be used at home in a case where an old DVD case could translate into buying the movie’s soundtrack. The uses are simply endless.
This idea of using Shazam for physical products opens many doors for the company. Moving into the retail sector means the amounts of partnerships the brand decides to get involved could be infinite, with each brand offering the user slightly different, bespoke information once Shazamed. There’s also the advertising opportunities to consider as the concept could really turn into a whirlwind of brand promotions, without the user necessarily noticing, or caring for that matter.
The company announced in January that it has closed a $30 million investment, valuing the company at over $1 billion, which is enabling this strategic development to be as intrepid as ever. Andrew Fisher, Executive Chairman explains, "This funding reflects the substantial progress we have made in delivering a new paradigm for brands and content owners to increase engagement with their audiences whilst magically connecting people to the world around them. We are delighted to welcome our new investors as we further strengthen our balance sheet and continue to effectively execute on our corporate strategy."
Source: Shazam
