Apple buys Shazam to gain ground in digital music services industry
Date: 2017-12-12   Author: Dhananjay Punekar  Category: #industry

Apple buys Shazam to gain ground in digital music services industry

Apple Inc., the globally reputed tech behemoth, has scarcely purchased Shazam Entertainment Limited, a UK based app development firm for USD 400 million. As per reliable sources, the latter has manufactured a song-identifying application coinciding with the former’s intelligent personal assistant Siri, a part of Apple’s iOS system, which has assisted consumers in recognizing music that is played on their iPhones. Apple’s key officials are of the view that Shazam’s outstanding features integrated with Apple’s music streaming services will simplify user search for new songs. It has been claimed that since its inception in 2015, Apple’s music streaming services have garnered nearly twenty-seven million users, thereby offering a tough competition to Spotify with sixty million subscribers.

Sources have cited that Shazam is one of the Apple’s biggest acquisitions across the music industry post its deal to acquire Beats Electronics in 2014 for USD 3 billion. Experts claim that the purchase deal will help in augmenting the overall service experience among the end users. It is also predicted that if Apple closes Shazam’s app, Spotify’s business is likely to be majorly affected. Apparently, even market analysts have stated that the AR (augmented reality) technology used by Shazam can enhance the service portfolio of Apple and raise its market offering. Shazam’s AR platform as well as visual recognition technology has also been projected to support the development of Google lens type features and help in enhancing ARKit activities.

It has been observed that digital services have been playing a rather pivotal role for Apple since the last few years, as iPhone sales – the principal money-making flagship of Apple, has witnessed a considerable decline. For the record, Apple’s last fiscal year witnessed the company’s software and other services generating close to USD 30 billion in revenue – which apparently is around a 23% increase from the previous year.



About Author


Dhananjay Punekar

Dhananjay Punekar

Dhananjay currently works as a content writer at AlgosOnline. A post graduate in mathematics as well as business administration, he worked as a process executive in Infosys BPO Limited before switching his professional genre. Following his childhood passion, he opted fo...

Read More

More from Dhananjay


Post Recommendents

Lithium Battery Market by Type, Application, Element - Global Trends and Forecast to 2025
Author: Partha Ray

Global Lithium Battery Market report contains all study material about overview, growth, demand and forecast research report in all over the world. This report offers some penetrating overview and solution in the complex world Global Lithium Batte...


Extracorporeal Membrane Oxygenation Market Overview with Detailed Analysis, Competitive landscape, Forecast to 2024
Author: Rahul Sankrityayan

Increase in prevalence of cardiopulmonary diseases and respiratory failure in Asia Pacific region influenced by several diverse socio-economic and environmental factors will augment the growth of extracorporeal membrane oxygenation market. Respira...


Platelet and Plasma Market Analysis with Key Players, Applications, Trends and Forecasts to 2024
Author: Rahul Sankrityayan

North America Platelet and Plasma Market accounted for the highest revenue of over USD 2.1 billion in 2017 and is projected to grow at a significant rate during ...