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.
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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.
