Apple planning to buy “Shazam” for $400M


Media reports said that Apple is close to buying the music recognition app Shazam for about $400m.
Shazam is a British app development company that created an app that can identify music, movies, advertising, and television shows, based on a short sample played and using the microphone on the device.
Shazam Entertainment Limited was founded in 1999 by Chris Barton, Philip Inghelbrecht, Avery Wang, and Dhiraj Mukherjee.

Shazam and Apple haven’t commented on the reports on the TechCrunch.
Shazam makes a lot of its revenue from commissions paid on referrals to Apple’s iTunes Store.
It said that it has more than 100 million monthly users.
Shazam will become the latest in a string of UK technology firms to be bought up by larher businesses, if the deal is confirmed.
Spotify has 60 million users worldwide, while Apple Music has just 27 million.
Apple would basically cut out the middleman and save money on commissions by acquiring Shazam.
That would also help the Apple Music service gain ground on Spotify, by making it easier for users to find songs and add them to playlists.
The would also hurt the competition, since Shazam would no longer be referring people to rivals Spotify and Google Play Music.
In October 2016, Shazam announced its mobile apps have been downloaded more than 1 billion times, and users have performed more than 30 billion “Shazams” since launch.

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Apple planning to buy “Shazam” for $400M