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 is finally buying the well-known song recognizing application, Shazam for $400 million.
It’s Official: Apple Is Buying Shazam
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.
Do not know which song you are playing? With Shazam, it is possible to know in a simple and immediate way the interpreter, group, the name of the song and other information. This service of recognition of music and not only it is simply spectacular even it has no competition to match.
After some rumours that the tech giant Apple was interested in purchasing this service, the confirmation came Monday by the Cupertino company. The purchase of this service will cost Apple 400 million dollars.
It’s official! the tech giant Apple will now buy the Shazam service for $400 million after the companies agreed on Monday as we told earlier. The music recognition service currently has more than 100 million monthly users, although revenues are not very high.
“We are thrilled that Shazam and its talented team will be joining Apple. Since the launch of the App Store, Shazam has consistently ranked one of the most popular apps for iOS. Today, it’s used by hundreds of millions of people around the world, across multiple platforms. Apple Music and Shazam are a natural fit, sharing a passion for music discovery and delivering great music experiences to our users. We have exciting plans in store, and we look forward to combining with Shazam upon approval of today’s agreement”.
What does Apple want Shazam to do?
Despite all the enthusiasm coming from Apple representatives, it is still unclear what plans for this tool within the tech giant Apple’s ecosystem. At the truth is that this service is already somehow integrated into the Apple platform, with Siri the most notorious. Some rumours also point to the use of Shazam in the area of augmented reality, where this service already has some work done.
The tech giant Apple’s purchase of this service will also “hurt” the competition by forwarding song clicks to its service, not Spotify or Google Play Music. According to The Verge, it will be more than 1 million clicks that Apple Music service will “steal” rival Spotify.
So, what do you think about this acquisition? Simply share all your views and thoughts in the comment section below.