Shazam has hired Yahoo’s former EVP of Americas, Rich Riley, as chief executive officer to continue the discovery app’s march into TV, advertising, and toward an IPO.
Rich replaces Andrew Fisher, who’s been newly appointed as Shazam’s executive chairman.
“The immediate strategic focus will be on extending our leadership position in music and very aggressively building on our strong foundation in TV while continuing to innovate on Shazam’s exceptional consumer experience,” Riley said in a statement sent to Fast Company.
Shazam claims 60 million monthly active users who tag 27 million tracks–the app lets the phone listen to snippets of environmental or overhead music to identify it and link users to purchases. Shazam gets a cut of the $300 million in digital sales it drives annually through affiliate partnerships with Apple iTunes and Amazon, AllThingsD reports.
Anyone who’s seen the Shazam icon during a favorite show and activated his or her smartphone app and unlocked bonus content–or used the app to unlock content or offers during ads–has witnessed Shazam’s vision for our second-screen future. The company has secured more than 140 corporate partners, including Procter & Gamble, Progressive Insurance, and Pillsbury. And a recent Nielsen study revealed that 88% of tablet owners and 86% of smartphone owners are on their devices at least once a month while watching TV, and nearly half the tablet owners are surfing both screens on a daily basis.
This is Rich’s first gig as CEO, and growth will be the priority. “Rich has both an entrepreneurial spirit and deep operational expertise from scaling Yahoo!’s predominantly content driven properties through advertising and commerce sales which fully aligns with how we are accelerating our own growth,” Shazam executive chairman Andrew Fisher said in a statement.TG