Warner Music Group to partner with Shazam for new record label
Warner Music Group recently announced that it is teaming up with Shazam to leverage the platform’s data to create a brand new record label with the intent of discovering and signing new acts.
“We have forged a potent proposition: the first crowd-sourced, big data record label,” said Warner Music Group chief operating officer Rob Wiesenthal in a statement. “While data and crowd sourced analyses will never be a substitute for the expertise and instincts of our (artist & repertoire) professionals, we do believe the information we obtain for this new label will provide very useful signals that will bolster our ability to find the stars of tomorrow.”
Shazam currently has a user base of over 420 million users in 200 countries and has recently partnered with TV shows and live televised events to connect to its users. This year’s Super Bowl resulted in over 700,000 concurrent “tags” during Bruno Mars’ half time performance and that’s just the beginning. The music discovery app recently raised a round of funding that placed it firmly at a $500 million dollar valuation. In an email exchange with USA today, Shazam CEO Rich Riley said;
“Shazam has more than 30 million tracks in our database from both artists that have been signed to labels as well as independent artists, and we’re adding new music at a rate of about a million new tracks each month from all over the world, Shazam works with aggregators and organizations like CD Baby that help unsigned artists by sending us their music to fingerprint and add to our system. Plus, many artists send us their music directly because they know that having their music recognized by Shazam can lead to sales and commercial success.”
Via: USA Today