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Apple Acquires Music Streaming Service Shazam for $400 million

It’s holiday season already and everyone is acquiring new stuff for themselves – clothes, shoes, jewellery, cars and so on. But for the most valuable brand in the world, buying out a new company seems to be the perfect holiday gift.

Music and entertainment generally have always been a very vital part of Apple’s Ecosystem. Suave products like iTunes, iTunes store and Apple music keep Apple at the forefront of music sales and streaming. iTunes has remained the largest music vendor in the world since 2010, while Apple Music boasts about 27 million active users. In 2014, the company made their biggest acquisition yet when they bought Beats by Dre from the popular rapper Dr Dre for $3 billion.

Fast forward December 2017, Apple is closing out a deal to acquire Shazam, a service that identifies music, movies, advertising, and television shows by playing a short audio clip from the content. The Music ID service has recorded a few milestones over the years, including being one of top ten most popular apps on the iTunes store and gaining more than a billion app downloads on supported mobile and desktop platforms, and over 30 billion “Shazams” in 2016. The service is also said to have about 175 million monthly active users globally across iOS and Android.

According to an Apple rep who spoke to The Verge, the company is pretty psyched about the new acquisition as Apple Music and Shazam shares a passion for music discovery and delivery of top-notch music experience to their users.

With Shazam’s powerful music ID feature, Apple can further integrate music ID (which is already supported by Siri), into its entire software ecosystem. It’ll also serve as a perfect way to tackle Google’s song ID feature on the Pixel 2.

 

 

Featured image credit: samadrobinson.com

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Tobenna Ezike

Tobenna is a writer, programmer and musician who is passionate about God, tech, and music. Follow him on Twitter and Facebook by clicking the icons below.

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