Shazam’s financial filings from 2018 revealed how the company grew ahead of its finalized acquisition by Apple. Through the 2018 calendar year, the audio identification platform had 478 million annual active users, up 78 million from the previous year. Although its revenue dropped 23% to £31.4 million in 2018, it reversed a 2017 loss of £17.7 million to profit of £124 million. The company landed in the black thanks to “the disposal of intangible benefits” during 2018.
Apple finished its acquisition of Shazam in November 2018, but news of the deal broke at the end of 2017. The tech company shares its financials in broad strokes, meaning that there have not been many specifics released about how Shazam has performed under the new ownership following the purchase.