Despite the fact that Shazam reportedly hit its billionth download just recently, achieving a strong profitability in its 15 years of operation, the business actually lost a large amount of money. Although the company’s digital app has received up to a billion downloads, they increased their spending in 2014 compared to 2015, with expenses of £49.58m or $63.3m. Now with a massive pre-tax loss in the past 12 months, Shazam has lost over 21 million dollars.

 

H/T: Music Business Worldwide

 

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