Apple Confirms The Purchase Of Shazam

Apple Confirms The Purchase Of Shazam

Source: Apple

UPDATE: Apple has purchased the popular music-identifying app, Shazam, for $400 million.

By now, there isn’t anyone in the world that’s unfamiliar with Shazam. The popular music-identifying app enables users to identify songs, movies, TV shows, and commercials from short audio clips. The app was so important that now the company will join Apple after being purchased for $400 million.

“We are thrilled that Shazam and its talented team will be joining Apple,” an Apple spokesperson told The Verge. “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 agreement.”

Shazam is routinely one of the highest rated apps in the world. And while the acquisition cost is way below the $1 billion Shazam was valued at during its last funding round, the company can still help Apple in a number of ways. Number one on the company’s priority list would be with Apple Music. Shazam can help improve the experience of the service. Shazam’s music and sound recognition, which is already integrated with Siri, could gain a deeper integration with iOS, much like Google has done with its song recognition feature on the Pixel.

Apple is also likely to incorporate Shazam’s augmented reality technology, which could help improve its own offerings. Shazam has visual recognition tech and an AR platform for brands that could help in the development of a Google Lens-type feature and improve its ARKit efforts.

See the original story below:

Wow, with the snow coming down hard outside one would almost forget that Apple doesn’t take any days off. It appears that the music juggernaut is planning on buying the popular music-identifying app Shazam. Reported by Tech Crunch, the deal is allegedly being signed this week, with an announcement planned for Monday, Dec. 11.

READ: Chance The Rapper Reveals His Apple Music Numbers To The Public

Sources tell the outlet that the sale was priced at about $400 million, with another saying that it was in the nine figures. This would make sense since back in 2015, Shazam was valued at over $1 billion. The app, which also identifies TV shows, films and advertisements, hit 1 billion downloads and for the first time achieved profitability, in large part due to revenue from advertisers.

READ: Apple, Netflix & Google File Brief Against Trump’s #MuslimBan

Shazam Entertainment Limited was founded in 1999, with the service operating originally through SMS. It has grown by leaps and bounds since then, developing augmented reality campaigns around its audio tags.

Apple declined to comment on this story.