Apple have acquired the music discovery app Shazam! Shazam is the app that basically lets you identify songs, movies, TV shows and commercials from short audio clips. So you are then able to listen to them via your favourite music streaming service. Usually Apple Music/Spotify. So, this is not good news for Spotify.
Apple spokesperson told The Verge:
“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.”
Allegedly the purchase of the music discovery app is $400M! While only pulling in $54M in revenue!
How will this affect you?!
There are a number of ways the acquisition can benefit the tech giant. Music! As a result the most obvious way the music discovery app can help Apple is via Apple Music! (If they shut down the app and use integrate it into the iOS, one would assume via Siri. Therefore Spotify referrals will be non existent) As click throughs per day are said to be 1M. Consequently this is HUGELY beneficial!
To listen to the guys chatting about this please click here!
To download Shazam please click here!