Shazam financials reveal it added 78m users in 2018
Posted on: 9 octobre 2019, by : Stuart Dredge

Shazam reached 478 million annual active users in 2018, which is 78 million more than in the previous year. The company’s revenues fell by 23% to £31.4m last year, but it swung from a loss of £17.7m in 2017 to a profit of just under £124m in 2018.  That’s the benefit of being bought by a global tech giant like Apple, which completed its acquisition of Shazam in November 2018.
According to Shazam’s financial results for 2018, published through Companies House in the UK, the company recorded £157.7m of income from ‘the disposal of intangible benefits’ in 2018, with a note further on in the accounts specifying that £156.6m of that “relates to the proceeds from the sale of intellectual property net of the cost of disposal” with a further £1.1m relating to the value attributed to its workforce in the acquisition.
The post Shazam financials reveal it added 78m users in 2018 appeared first on Music Ally.
Source: Music ally

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