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Apple Acquires Music Recognition Service Shazam
Apple is one of the top global companies and pioneers legal music online. While it builds marketshare for its Apple Music streaming service music recognition platform Shazam looks like a perfect match.
Tipped to TechCrunch on Dec. 8 and confirmed by Apple on Dec. 11, the deal is estimated in the $400 million range. Apple used the word "thrilled" to describe merging Shazam's corporate vision and trajectory into the Apple Music experience.
"Today, [Shazam is] used by hundreds of millions of people around the world across multiple platforms," Apple said in a statement provided to Billboard. "Apple Music and Shazam are a natural fit, sharing a passion for music discovery and delivering great music experiences to our users."
This acquisition has a nice glow because Shazam has been such a must-have app for years, and like many other services, has struggled to survive. It remains to be seen what Apple does with its "hundreds of millions" Shazam users.