Sony Music invests $3 million in Shazam: Source

The investments follow Mexican billionaire Carlos Slim's investment of USD 40 million in Shazam in July.

Sony Music Entertainment, a unit of Sony Corp, has invested USD 3 million in music-recognition application maker Shazam Entertainment, a source familiar with the matter said.

A Wall Street Journal blog post said earlier in the day that Vivendi's Universal Music Group and Warner Music Group owner Access Industries had also invested USD 3 million each, in Shazam.

Also read: App developer Shazam gets $40m backing from Carlos Slim

The investments come after Mexican billionaire Carlos Slim invested USD 40 million in Shazam in July.

London-based Shazam's music-recognition technology helps identify song title and artist along with lyrics, video, artist biography, concert tickets and recommended tracks.

Shazam and Sony declined to comment, while Universal Music and Access Industries were not immediately available for comment.

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