VANCOUVER, June 26, 2015 /CNW/ - Destiny Media Technologies, Inc. (TSXV: DSY) (OTCQX: DSNY), provider of the global standard for the secure distribution of pre-release music to radio and other music industry professionals, today announced that the initial trial license of fingerprinting and meta data to Shazam Entertainment Limited, the world's leading media engagement company, has been expanded into a full commercial license.
Under the new 3 year agreement, Destiny delivers real time fingerprints and meta data to Shazam from tracks on participating labels in the Play MPE® system. To accomplish this quickly and efficiently, Shazam's fingerprint technology was integrated into the Play MPE® infrastructure, so the whole transfer is completely automated.
"It's not just about the new revenue to Destiny. Integrating Shazam into Play MPE® was a natural fit for both companies," said Steve Vestergaard, CEO of Destiny Media." Shazam refers around 7% of the world's digital downloads, representing $400 million of sales globally every year. Also, the Shazam charts are used as an important hit barometer by radio and broadcasters, therefore getting music to Shazam faster helps boost sales, awareness and Shazam chart position which benefits our Play MPE® customers."
Due to the fact that new tracks in Play MPE® are typically pre-release, automated fingerprint deliveries from Play MPE® are very timely. Further, the Play MPE® integration is a reliable and efficient way to fingerprint large catalogs of fast moving music, automating an otherwise very manual process at both ends of the supply chain.
A case study done by Shazam in January of 2015 demonstrated the effectiveness of the Play MPE® integration. The song that was studied was the highest debuting record in the week starting January 5th and the 101st most "Shazam'ed" song in the USA. It was 8th on the USA Future Hits Chart and 3rd on the Hip Hop Chart. If the record was not sent to Shazam through Play MPE®, they concluded that these important first week chart positions would not have been achieved.
About Play MPE® and Destiny Media Technologies, Inc.
Play MPE® is trusted by world's largest record companies to efficiently and securely distribute music to radio and music reviewers. Play MPE®'s distribution network consists of the most relevant recipients in the music industry. Patents and pending patents include techniques for watermarking, digital locking and cross platform player-less streaming video. For daily music distribution announcements please visit http://daily.plaympe.com or follow us on Twitter at https://twitter.com/PlayMPE or on Facebook at https://www.facebook.com/dailyplaympe
Shazam is the world's leading media engagement company with more than 350 million people in more than 200 countries and adding more than two million new users each week. With the industry's unlimited fastest tagging in the Free and premium Encore Apps on iOS and Android devices, Shazam is the best way for people to discover, explore, buy, and share more music, TV shows and branded content they love.
The Shazam, Shazam Encore, LyricPlay, Shazam for TV names and icons are trademarks of Shazam Entertainment Limited.
SOURCE Destiny Media Technologies, Inc.
For further information: Investor Relations Contact: Three Part Advisors, LLC; Jeff Elliott, 972-423-7070; Dave Mossberg, 817-310-0051