Apple In the Process of Buying Music App Shazam

Apple In the Process of Buying Music App Shazam

Lindsey Duncan
December 9, 2017

Shazam's app now lets users identify and share audio, TV shows, printed material (such as magazine ads and movie posters) and augmented-reality content.

The deal is supposedly done with an announcement set for next Monday.

The price was not known, but was expected to be far less than the $1 billion that Shazam was valued at in its most recent fund-raising round in 2015. We are still asking around. The application passed the 1 billion download mark last September.

Shazam used to mainly make money off a commission on music purchases made via its discovery service. Kleiner Perkins also invested in competitor SoundHound.

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In September a year ago, Shazam - which also identifies TV shows, films and advertisements - hit 1 billion downloads and had for the first time achieved profitability, thanks largely to revenue from advertisers. The company also lost approximately $22 million the year before that. It's not immediately clear how Apple intends to incorporate Shazam's technology and team into its current product offerings.

Since those early days, it's launched a number of related services. "You came for music, stay to experience McDonald's Karaoke, MTN Dew VR Racing and much more", is the company's pitch on this feature. This would also allow Apple to provide users with a link to purchase identified songs on the App Store.

The move makes flawless sense for Apple as it looks to boost its own Apple Music streaming service, which is already linked to from within Shazam. That's about half the 60 million paid subscribers that Spotify now enjoys.

Representatives from Apple and Shazam have declined to comment.