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Apple Confirms Acquisition of Music Recognition App Shazam for $400 Million

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Update: Apple has finally confirmed this acquisition that would lead to boost the Apple Music service with the content integration.

With Spotify leading the music streaming industry, Apple in its own way is stepping up its Apple Music service by adding new features. On the other hand, the Google Play Music has never been on par with the Spotify and Apple Music. The latest reports suggest Youtube might launch a new premium music streaming service in March 2018. Talking about the Apple Music, the company is now rumored to acquire the music recognition app Shazam to get better against Spotify.

According to TechCrunch, the deal will be signed anytime now, and the official announcement can be heard on Monday. Take these details with a pinch of salt, as these things might change even at the last minute. The price tag for this deal is said to be around £300 million ($401 million). However, the deal price is much lower than the $1.02 billion valuations during its 2015 funding round.

The Shazam app is available on Google Play Store and Apple App Store for free. There is also a premium ad-free version called Shazam Encore priced at Rs 250 on Play Store. Back in 2013, Shazam has partnered with Saavn for discovering the Indian content. The user can fire up the app to know about the song they are listening. Additionally, Shazam also shows the Youtube video, lyrics, and links for playing in the music streaming apps like Saavn, Apple Music, and Google Play Store.

The app like Snapchat and Siri have integrated the services offers by Shazam. Unlike Apple’s Siri, Google is offering the music discovery service on its own. With the Pixel 2 and Pixel 2 XL, Google introduced the “Now Playing” feature, which shows the song playing nearby directly on the lock screen. On Google Play Store, Shazam has over 100 million downloads with 4.4 rating. The users can also follow their favorite artists on Shazam.

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