Apple closes $400m deal on Shazam, looks to remove ads from music recognition app
Shazam has officially been acquired by Apple, adding the music recognition platform to its growing music streaming service. / Apple
The reported $400m deal has paired Shazam’s services, downloaded by over a billion people worldwide, with Apple’s suite of hardware and software, notably Apple Music. Techcrunch, which had first announced the financial details, confirmed.
Oliver Schusser, vice president of Apple Music, said on the company's blog: “Apple and Shazam have a long history together. Shazam was one of the first apps available when we launched the App Store and has become a favorite app for music fans everywhere. With a shared love of music and innovation, we are thrilled to bring our teams together to provide users even more great ways to discover, experience and enjoy music.”
With Shazam as part of Apple’s portfolio, Apple Music has further upped its competition with Spotify and other streaming challengers. Spotify has recently fallen behind its rival streaming service in monthly paid subscribers in the US, with 30 million subscribers as of February as opposed to Apple Music’s 36 million.