Apple to reportedly acquire Shazam for almost $400 million

Camille Francis
December 10, 2017

Apple is finalizing an agreement to procure Shazam, which is an app that enables you to identify songs, TV shows, and movies from an audio clip, as per Tech Crunch. Later that year, it arrived on Android, and it has continued to maintain a strong userbase.

Apple could announce a deal to acquire the Shazam app, which has been downloaded more than 1 billion times, as soon as Monday, according to a report from TechCrunch citing unnamed sources.

Apple is known for buying up other companies, though Shazam is certainly no small startup. Shazam announced a year ago that it had reached one billion downloads on smartphones. It's also not hard to imagine that the often used Save To Spotify feature within the Shazam app will go away forever.

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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.

The deal could be announced as early as next week, according to Recode. Now it seems that this sound and music recognition technique will be marked under the name of Apple. 20 million times a day. Users can scan Shazam codes, or QR codes, to launch 3D animations, product visualizations, mini-games and 360-degree videos. Unfortunately, the company only pulled in $54 million in revenue in 2016, while also losing $5.3 million in the year. "Shazam's early model - keyed by an SMS code and a behavior that was foreign to mobile users - would've been of no interest to Apple". 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.

If Apple is considering making its very own Google Lens, then this would be a good step towards achieving the goal.

Other reports by My Hot News

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