It’s official. Apple has acquired Shazam, a popular music recognition service for an undisclosed financial amount. The company has announced today and the deal was first reported last week which was said worth $402 million.
After much speculation over the past, Cupertino-based Apple Inc. has confirmed the acquisition of Shazam, which lets users identify songs, movies, TV shows, and commercials from short audio clips.
“We are thrilled that Shazam and its talented team will be joining Apple,” an Apple spokesperson told. “Apple Music and Shazam are a natural fit, sharing a passion for music discovery and delivering great music experiences to our users. We have exciting plans in store, and we look forward to combining with Shazam upon approval of today’s agreement.”
Shazam in a statement said, “We are excited to announce that Shazam has entered into an agreement to become part of Apple“. Shazam is one of the highest rated apps in the world and loved by hundreds of millions of users, and now, with the agreement to Apple, Shazam imagine a better home to enable to continue innovating and delivering magic for their users.
According to reports, the acquisition cost is far from the $1 billion Shazam was valued at during its last funding round, but the company has had a hard time finding a viable space, pulling in only $54 million in revenue in 2016.
Apple has been working closely with Shazam for quite a while now, meaning that there has always been a bubbling canister of speculation about the relationship between the two companies. Finally, it turned to be true and accurate, but what Apple didn’t announce is any financials on the deal but has spoken about “exciting” plans for the future.
Regarding Shazam, Apple would be extremely interested in a lot of things. Apple integrating Shazam’s recognition software into Siri in iOS 8 and beyond. That integration means that iPhone, iPad, and iPod touch owners have been able to ask Siri to identify a playing song by utilizing Shazam’s functionality without having to have the app installed.
“Shazam stated that its apps have been downloaded more than 1 billion times since its original launch onto the App Store in 2008.”
Despite Shazam’s low revenue, it can help Apple in a number of ways. The most obvious would be with Apple Music. From where Shazam’s team could improve the experience of the service. If Apple decides to shut down the app, it would also take away referrals to Spotify, which together with Apple Music gets 1 million clicks per day from Shazam.
Shazam’s music and song recognition, which already integrated with Siri, could eventually gain a deeper integration with iOS, much like Google has done with its song recognition feature on the Pixel.
Otherwise, Apple likely to work on Shazam’s augmented reality technology, which could help improve its own offerings. Shazam has visual recognition tech and an AR platform for brands that could help in the development of a Google Lens-type feature and improve its ARKit efforts.
It’s not clear that Apple is acquiring the company for the recognition tech behind the platform. It also means that we can probably expect to see the Shazam app disappear from the App Store and any third-party integrations disappearing from other apps over the course of time.
With the deal now official and Shazam is following in the footsteps of Beats Electronics as a high-profile acquisition by Apple, it’s only a matter of time until we see what these “exciting” plans are. Stay tuned for more!
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