Shazam, which has attracted more than 120 million monthly active users with its music recognition app, is getting into video.
Founded in 2012, Vadio is essentially a media matchmaker, helping companies that already stream music online also show the music video of a given song at the same time. The idea is to offer users an added visual element to their listening experience, while giving the streaming companies another medium to create a new advertising revenue stream.
“By incorporating high quality video, Shazam is making it possible for brands and artists to provide new ways for its global audience to discover music,” Bryce Clemmer, co-founder and CEO at Vadio, said in a statement.
Revenue from ad sales on the channels are split between the digital platform, Vadio, and the content curator.
Vadio is a graduate of the Portland Incubator Experiment and Portland Seed Fund. The company raised $7.5 million last year to facilitate its expansion. Their leadership team includes former Sony Pictures Digital Entertainment president and COO Yair Landau.