Warner Music Group owner Access Industries – the holding company of billionaire Len Blavatnik – along with Vivendi’s Universal Music Group and Sony Music Entertainment, are each taking $3 million stakes in Shazam, these people said. All of the shares were purchased from a single third-party investor, according to people familiar with the transactions.
Shazam, which is based in London, helps people identify music playing on the radio or other public setting. For the labels, Shazam’s biggest value lies in its role as a marketing partner: The app lets people share the song’s name on social media, download it from Apple iTunes Store or stream it on subscription services such as Spotify.
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