Apple is close to buying the music recognition app Shazam for about $400m (\u00a3300m), media reports say.<\/p>\n
Shazam, a UK company founded in 1999, allows people to use their smartphone or computer to identify and buy music through a snippet of sound.<\/p>\n
Shazam, which says it has more than 100 million monthly users, makes most of its revenue from commissions paid on referrals to Apple’s iTunes Store.<\/p>\n
Neither Apple nor Shazam have commented on the reports on the TechCrunch site.
\nIf the deal is confirmed, Shazam will become the latest in a string of UK technology firms to be bought up by larger businesses.<\/p>\n
Shazam – a billion dollar London success<\/strong><\/p>\n The influential Music Business Worldwide site points out that the reported price is significantly lower than the $1bn valuation placed on Shazam during its last funding round in 2015.<\/p>\n By acquiring Shazam, Apple would basically cut out the middleman and save money on commissions.<\/p>\n It would also hurt the competition, since Shazam would no longer be referring people to rivals Spotify and Google Play Music.<\/p>\n The deal would also help the Apple Music service gain ground on Spotify, by making it easier for users to find songs and add them to playlists.<\/p>\n At present, Spotify has 60 million users worldwide, while Apple Music has just 27 million.<\/p>\n –<\/p>\n Source: BBC<\/p>\n","protected":false},"excerpt":{"rendered":" Apple is close to buying the music recognition app Shazam for about $400m (\u00a3300m), media reports say. Shazam, a UK company founded in 1999, allows people to use their smartphone or computer to identify and buy music through a snippet of sound. Shazam, which says it has more than 100 million monthly users, makes most […]<\/p>\n","protected":false},"author":14,"featured_media":381731,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_social_meta":[],"jnews_override_counter":[],"footnotes":""},"categories":[106],"tags":[224,15321],"class_list":["post-381728","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-apple","tag-shazam"],"_links":{"self":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/381728","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=381728"}],"version-history":[{"count":0,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/381728\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/media\/381731"}],"wp:attachment":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=381728"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=381728"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=381728"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}