Apple is looking forward to making its place in the music business. As Spotify continues to inch closer a public listing, and now Apple also making a move of its own to set up its game in music services. It seems Apple planning to acquire music recognition service app Shazam, according to the reports.
Sources speak about Apple’s acquisition of Shazam, which is a well-known music service that uses machine learning techniques to identify short audio clips from songs, TV shows, and more. For the unknown, Shazam operates a standalone app for iOS, macOS, and watchOS, but also has a close relationship with Apple and its products.
Now, Apple is said to try and bolster its already impressive offerings with an acquisition of Shazam. Since iOS 8, Shazam has been integrated into Siri, it powers the feature that lets Siri identify songs that are playing aloud. For example, there’s a specific song on television and you ask Siri “What song is this?” Siri uses Shazam to clarify it.
Shazam was classed as revolutionary when it launched as the only service which allowed users to instantly recognize a sone purely by recording a very small sample of the track. Other services like SoundHound, which is app-based have also appeared in that marketplace, Shazam has even though continued to expand its offerings by going above and beyond pure songs by identifying clips from movies, TV shows, and advertisements and then being able to perform a call-to-action based on those results.
Although Apple has an existing relationship with Shazam from a music recognition perspective as it’s integrated with Siri and Apple Music. Subscribers who Shazam a song can then tap to play it directly in Apple Music and can add it to a Shazam playlist. Shazam also has an augmented reality feature that allows you to find content based on pictures captured with the Shazam app.
It seems Apple may have bigger, more grandiose plans that extend beyond that, so the deal itself could be signed off and announced publicly as early as next week, Monday. With some estimating that the deal could be worth around the $400 million mark. And it’s also said the deal could be worth nine figures, while another says Apple may shell out somewhere around $401 million.
Both numbers are lower than the $1.02 billion valuations Shazam received during its last funding round in 2015. Shazam in its lifecycle. has managed to raise $143.5 million in investment through various well-known investors. However, the final purchase price isn’t accurately known at the moment but it is suggested that Apple will be paying significantly less than the aforementioned valuation.
Customers may know Shazam as an app that is downloaded directly to a smartphone through the App Store. But it wasn’t always that way. The music recognition service existed eight years before Apple even released the original iPhone which makes for a mature, growing and very attractive proportion.
If anything regarding Apple and Shazam acquisition goes live, we will let you know. With an announcement planned for Monday, Apple and Shazam could sign a deal.
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