{"id":381728,"date":"2017-12-10T11:33:29","date_gmt":"2017-12-10T11:33:29","guid":{"rendered":"http:\/\/citifmonline.com\/?p=381728"},"modified":"2017-12-10T11:33:29","modified_gmt":"2017-12-10T11:33:29","slug":"apple-buy-shazam-400m","status":"publish","type":"post","link":"https:\/\/citifmonline.com\/2017\/12\/apple-buy-shazam-400m\/","title":{"rendered":"Apple ‘to buy Shazam for $400m’"},"content":{"rendered":"
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":[],"categories":[106],"tags":[224,15321],"yoast_head":"\n