3:22pm PT by Jethro Nededog
Shazam: How It Intends To Spend Its $32 Million on TV (Video)
Shazam, the company that created the mobile app of the same name that allows users to identify songs they’re listening to and ways to purchase it, announced Friday that it has raised $32 million in venture capital funding to expand its business into television and commercials.
TechCrunch.com interviewed Shazam CEO Andrew Fisher, who explained just how the company intends to leverage its brand for TV.
“Music is working well for us,” Fisher says of the app that’s already used by 45 million people in North America. “We drive about $100 million a year through our platform, but we’ve looked at the technology for a long time as being applicable to direct response.”
Already on-screen with Oxygen’s The Glee Project and Old Navy commercials, Fisher describes the capabilities that Shazam offers television networks and companies who are looking to increase its engagement and interactivity with customers.
Fisher explains that one can point Shazam at any audio source and act instantly and interactively with what they’re watching. Currently, it’s used to give users access to exclusive related content, videos, and sweepstakes. But in the future, it can be used to vote or purchase the item in a commercial.
The CEO reveals it’s already in negotiations with NBC, MTV, and Discovery Channel.
Watch the full interview below.