Confirmed; Apple Music Has Bought Shazam

Apple have recently announced their acquisition of Shazam giving them full ownership of the popular music recognition app

Apple has currently confirmed that they have bought music identification application Shazam. the acquisition puts Apple in an exceedingly sturdy position as the new port of call when discovering music you don’t recognize the name of.

An Apple representative speaking to Verge said: “We are excited that Shazam and its gifted team will be joining Apple. Apple Music and Shazam are a natural match, sharing a passion for music discovery and delivering great music experiences to our users. we've got exciting plans for the future, and we look forward to combining with Shazam upon approval of today’s agreement.”

The deal ended up being worth $400 million which came as a surprise to some considering Shazam’s 2015 valuation of over $1 billion. Despite their high valuation thanks to an enormous user base and recent explorations into a marketing business Shazam have still struggled to make themselves totally profitable.

Shazam presently boasts 500 million users with 17 million tags per day and a music database of 30 million songs. A majority of revenue is generated from investors, advertisements, and referrals to iTunes, Google Play, and Spotify.

Shazam told Verge: “We are excited to announce that Shazam has entered into an agreement to become a part of Apple. Shazam is one of the very best rated apps in the world and treasured by hundreds of millions of users and we can’t imagine a better home for Shazam to enable us to continue innovating and delivering magic for our users.”

At the moment Shazam works with a bunch of music stores and streaming services like Spotify and Deezer. With Apple’s acquisition, the song recognition app may link solely to iTunes and Apple Music giving Apple a monopoly on music discovery via Shazam scanning.

Shazam’s powerful business operating with brands for distinctive marketing campaigns is also probably an eyebrow-raiser for Apple.