Apple is set to buy the popular music recognition app Shazam, it’s been reported.
According to TechCrunch, a deal could be finalised over the weekend, with an official announcement coming on Monday (December 11).
The service was launched back in 1999 and was first operated via text message. It allowed users to identify songs by listening to a short audio clip, before revealing the artist and song title. Now, the app is also capable of identifying TV shows, movies and advertisements – before linking users to their preferred streaming service.
Shazam already integrates with Apple’s Siri and Apple Music, as well as Spotify and Shapchat.
One insider values the sale price of the service at $401 million (£298m). In 2015, the post-money valuation stood at $1.02 billion. In 2016, the app hit one billion downloads and reported $54 million (£40m) in revenue.
Apple and Shazam have not yet commented.
Apple launched their own streaming service Apple Music back in 2015. Apple CEO Tim Cook said at the time: “It will change the way you experience music forever”.
The service includes on-demand streaming, social networking that allows artists to connect with their fans and 24/7 radio station Beats 1 – which features shows from former Radio 1 DJ Zane Lowe, Pharrell, Lars Ulrich, and Elton John.
In November, Facebook unveiled the integration of Apple Music into Facebook Messenger, allowing subscribers to stream songs on the messaging service for the first time ever.
Straight from the NME
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