The music market is growing and streaming services are becoming increasingly important, it is normal for the companies to want to be present in this area. Hence, according to the latest reports, the tech giant Apple set to buy the well-known song recognizing application, Shazam for $400 million.
Apple Is Buying Shazam For $400 Million
As the music market is growing and streaming services are becoming increasingly important, it is normal for companies to want to be present in this area. For that reason, all current players have to renew and innovate their services.
This may be the reason for the latest rumour, which takes the tech giant Apple’s interest in buying Shazam, an app that can identify music, movies, advertising, and television shows, based on a short sample played and using the microphone on the device. The deal is about to come to fruition and has until the date for its official announcement.
Everyone recognizes Shazam and recognizes its value and features. This music recognition service has grown over the years and improved its offer, attacking areas that go well beyond simple songs.
The tech giant Apple’s internal sources have now revealed that this company will be keen to have Shazam as their service and will soon be communicating with the world about its purchase.
It seems that the tech giant Apple is clear that it wants to continue betting on the most musical side of its business for 2019, or at least, it is clear from one of the latest rumours about the upcoming acquisitions that Cupertino could make.
According to technology portal TechCrunch, the firm headed by Tim Cook is negotiating the purchase of the musical identification service Shazam for 400 million dollars. Sources close to the matter have indicated that the tech giant Apple will announce the agreement on Monday, although, at the moment, neither of the two companies has pronounced on the matter.
The price that the tech giant Apple would have put Shazam would be far below the last assessment of the company that was made in 2015 after its latest round of financing and that the rate was 1,020 million dollars.
Shazam, which entered 50 million dollars last year, is an app that allows you to recognize any song with just a few seconds of listening via smartphone. The firm was founded 18 years ago and, at the time, this service was provided in an ‘analogue’ way. To know which topic was repeated without stopping in the ads or entertain a scene of any series or movie, users had to call by phone, leave the conversation active for 30 seconds and wait for the arrival of an SMS in which they were provided with the requested information.
Since its arrival in the ‘intelligent age’ and until September of last year, the tool had surpassed 1 billion downloads and today is one of the most popular in the App Store.
Currently, the tech giant Apple and Shazam already collaborate and, in fact, the application is integrated into Siri, the virtual assistant of the iPhone manufacturer. According to some media, if this movement were confirmed, their relationship would become closer and those of Cupertino could incorporate it directly into the operating system of their smart devices, which would be a considerable boost for their music streaming service Apple Music.
It is unclear what the role of Shazam will be after the acquisition and how Apple will integrate it into its ecosystem. As always, and in this type of situation, Apple refuses to comment on any moves, but this is a business that for many analysts makes perfect sense.
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