Fun fact of the week: The music app Shazam drives 13% conversion rates from users tagging tracks and sells 300 000 tracks per day.

Andrew Fisher, CEO of Shazam, made this interesting comment on the business side of their app at MIDEM earlier in the week.

13% is an insane conversion rate. And very interesting to see the power of context. My own usage of Shazam is often when I’m in a department store, in a restaurant or any other noisy environment just hearing parts of a song that sounds really good. The curiosity problem that Shazam solves also makes the selling of tracks in that context very engaging. An economic proof of concept of apps living in the hybrid space of digital and physical.