Apple Music To Acquire Shazam For $400 Million

Dec 10, 2017, 02:27
Apple Music To Acquire Shazam For $400 Million

Now, it would appear that YouTube has even more catching up to do, as Apple is reportedly in the final stages of acquiring the music recognition app Shazam for the small sum of $400 million. According to many sources, the official announcement of the sale will take place this upcoming Monday, confirming their partnership.

It will be interesting to see how Apple implements Shazam into Apple Music and how it'll affect the Spotify integration within the core Shazam app since Spotify is Apple's biggest music streaming rival right now.

Shazam, that reports over one billion downloads, lets music lovers identify any song, TV show, film or advert in a jiffy, by listening to an audio clip or a visual fragment.

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In October 2016, Shazam announced its mobile apps had been downloaded more than 1 billion times, and users had performed more than 30 billion "Shazams" since launch.

The deal could allow Apple to integrate a popular consumer feature directly into its iPhones at a time when Apple's innovation crown is under threat from Google and Samsung.

Stockholm-based Spotify earlier Friday announced that it and China's Tencent were taking minority stakes in each other - a likely sign of Spotify's growth ambitions in the world's most populous country, where it is not yet present. It will also get rid of the commission it pays to Shazam when users land on iTunes Store to buy content they discover on the platform.

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Neither Shazam or Apple have made a public statement about the acquisition at this point.

"One source describes the deal as in the nine figures; another puts it at around $401 million".

The move would make sense for Apple on a few fronts.

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Snapchat could also lose out if this deal goes through.