Friday, December 15, 2017

APPLE SET TO BUY SHAZAM MUSIC APP FOR $400M

I know that most of us have in one way or the other heard about Shazam. For those of us who do not know, Shazam is a company founded in the UK that allows people to use their smartphone or computer to identify and buy music through a sound snippet.
The latest news reaching us here is that Apple is set to buy the popular music recognition app – Shazam for a price of $400M.
Over 100 million people makes use of the Shazam app monthly and they make majority of their revenue from commissions paid on referrals to Apple’s iTunes Store.
By acquiring Shazam, Apple would basically cut out the middleman and save money on commissions.
The deal 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.
Sources: BBC, Techcrunch.

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