Apple confirms acquisition of Shazam, says two are ‘natural fit’
Apple has confirmed that it is acquiring music recognition app Shazam.
Terms of the deal were not disclosed, but several sources have confirmed to TechCrunch that Shazam was purchased for about $400m.
"Apple Music and Shazam are a natural fit, sharing a passion for music discovery and delivering great music experiences to our users," said Apple in a statement. "We have exciting plans in store, and we look forward to combining with Shazam upon approval of today’s agreement.”
Last year, London-based Shazam revealed that its app had surpassed one billion mobile downloads. In addition to identifying music, Shazam also directs users to streaming apps like Spotify, Deezer, Apple Music and Google Play Music.
The company has recently made a concerted effort to focus on brand integrations and partnerships in hopes of bringing in more advertising revenue. Last year, the app launched ‘Shazam for Brands,’ which helps marketers use data to better target listeners.
Shazam’s visual recognition capabilities, which let users snap photos of packaging, print and outdoor ads to access additional content, have also helped it create brand integrations. Last year, the company created Shazam-enabled bottles in partnership with Coke that let users record lip-sync videos to share on social.