Would you download an app that is solely designed to track and report everything you watch?

OK, how about if it also paid you $11 per month?

That's the offer that a new app released on Tuesday is making. Created by data collection startup Symphony Advanced Media, VideoPulse tracks any and all video consumption of its users through a Shazam-like passive listening program that hears what you're watching and tracks it.

See also: 5 effective ways to market to millennials

Symphony is trying to solve what has become a much-debated issue within modern media — how to properly measure who is watching video. The emergence of companies such as Netflix and Hulu have pulled viewers away from traditional television, a shift that has called into question the accuracy of traditional Nielsen TV ratings and other such audience measurements.

"There has been a significant void in understanding how consumers are using non-traditional media platforms, but innovation has finally arrived in the media measurement space,” said Charles Buchwalter, CEO of Symphony Advanced Media, in a press release.

The program already counts around 15,000 users and is being tested by a variety of media companies including NBC, Viacom, Warner Bros and A+E Networks.

"Our industry has been disadvantaged by legacy measurement approaches that have failed to evolve with consumers’ increasing use of media platforms," said Liz Huszarik, who leads media research at Warner Bros, in a press release. "We are hopeful that by working with Symphony Advanced Media’s VideoPulse that we can capture an accurate picture of consumers’ total TV/video usage across platforms and devices, with a transparency that’s been missing from other vendors."

Symphony claims that the VideoPulse system will be the most advanced audience measurement available, able to track online video consumption as well. It's free to sign up — a process that will ask a variety of questions such as age, gender and income level.

But users have to be approved first.

The app's users are being recruited in an effort to create a diverse group that can then be counted on to provide data on a wide variety of demographics.

Once approved, users just have to keep the app running in the background on their smartphone at all times. The app doesn't record normal conversations, the creators say, and only picks up on signals from broadcast programs.

Users that opt in will be paid between $5 to $11 a month and can expect just about anything they watch to be tracked, along with other data including their location. That sounds like a privacy nightmare, but Buchwalter told Mashable that the company is not collecting any personally identifiable information in the data and that the only information shared with its clients is aggregated into demographic groups.

Users are allowed to opt out at any time.

Buchwalter said that the data generated by VideoPulse had already produced some insights, including that millennials are not watching less TV, a widely accepted trend that has sent some cable companies scrambling. Instead, they're watching nearly one quarter of their TV through "nontraditional" means that are currently not measured, such as viewership after seven days and on connected devices.

That amount of consumption, Buchwalter claimed, is enough to show that millennials are watching just as much TV as ever.

"When you then put that 25% back on top of the market that appears to be declining, you have all of the sudden a very different view," he said.