Shazam targets boost in business services.(News)

Shazam Entertainment is bidding to drive forward the business uses of its music recognition technology after winning an additional $5m of funding.

The company has, until now, derived most of its income from a consumer offering which allows music fans to instantly identify a track by dialling a special number and pointing their phone at the source. However, it now plans to increase its interests in B2B areas. including airplay monitoring and royalty tracking.

Its CEO Jerry Roest says it will shortly unveil details of two deals signed in the US, one with a broadcast monitoring company to use Shazam's technology to analyse music airplay output and another with a performance rights company to track music played for royalty payments.

"In the UK, the Shazam brand is immensely strong now and we will continue to push that, but what we're seeing is increased opportunities to use that technology," says Roost, who forecasts that the company--launched in August 2002--will reach ...