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Apple close to acquiring Shazam

Apple close to acquiring Shazam

Apple close to acquiring Shazam

Shazam also reportedly has a deal in place with Snapchat, though it is unclear how this deal would be affected if rumours of Shazam's sale are true. We are still asking around. If the rumor is true, the company has lost 60% of its value in two years. Apple could opt to integrate Shazam into future versions of iOS or use the app in conjunction with Apple Music.

The app's last reported download tally was more than one billion, but the number dates to September, 2016. Last year, they only made $54 million and lost $5.3 million.

Shazam had already maintained a long-standing relationship with Apple-in 2008, it was one of the first apps to be featured on Apple's App Store.

Buying out Shazam would also rid Apple of having to pay Shazam for click-throughs to iTunes purchases like it does now. "You came for music, stay to experience McDonald's Karaoke, MTN Dew VR Racing and much more", is the company's pitch on this feature.

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Shazam - which allows users to quickly identify songs, films, TV shows or commercials - has been an essential app since the dawn of the smartphone era.

Shazam also has a feature that lets users see what popular artists are Shazaming, and this could conceivably make its way to Apple Music, giving users another way to connect with artists and discover new music.

Shazam was a clear acquisition target for Apple given its interest in expanding its presence in the music market-especially as its top competitor Spotify moves closer to public listing, expected to happen next year.

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