June 23, 2018

Apple is acquiring music recognition app Shazam

10 December 2017, 02:24 | Francis Delgado

Apple is acquiring music recognition app Shazam

Screenshot 2017 12 08 13 47 45

Apple is nearing a deal to acquire music identification app Shazam.

If you're not familiar with the app, it uses your phone's microphone to listen to music now playing, and give you information about it (and links to buy it).

Shazam has crossed 1 billion downloads in September 2016, which will eventually benefit Apple.

It's also possible that Apple wants Shazam to integrate the app's offerings more deeply into its mobile operating system, in which case Shazam might disappear as a standalone app. The two companies have had a longstanding business relationship, under which Shazam app users can click through to purchase songs on iTunes that they've identified.

TechCrunch first reported on the pending deal. Sources have put the fee at around $400 million United States dollars which is lower than the $1.02 billion post-money valuation the company based their last funding round in 2015 off of.

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"Build it or buy it is a recurring question for Apple and that's especially the case when it comes to music", said Jeff Hasen, mobile strategist at Possible Mobile, in a statement emailed to Mobile Marketer. Unfortunately, the company only pulled in $54 million in revenue in 2016, while also losing $5.3 million in the year. On Google Play Store, Shazam has over 100 million downloads with 4.4 rating.

It also has an augmented reality brand marketing service lets you discover content based on pictures that you snap with the app.

Apple is making another big move this year. Shazam also holds a deal with Snapchat.

Shazam needs no introduction, but it works by identifying short audio clips from songs, TV shows and more using machine learning techniques. Because according to The Wall Street Journal, Shazam accounted for 10% of all digital music purchases a year ago.

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