Confirmed by Bloomberg, Apple Inc. agreed to acquire music-identification service Shazam, a British app not only capable of identifying music, but movies, advertising, and television shows all based on a short sample played while using the microphone on a device. Shazam Entertainment Limited was founded in 1999.
Terms of the deal weren’t disclosed, but a person familiar with the situation said Apple is paying about $400 million for the U.K.-based startup. “Apple Music and Shazam are a natural fit, sharing a passion for music discovery and delivering great music experiences to our users,”said Apple spokesperson Tom Neumayr. “We have exciting plans in store, and we look forward to combining with Shazam upon approval of today’s agreement.”
In a report published by thenextweb.com, the app claims to have more than 100 million monthly active users and identifies songs over 20 million times per day. The reports states that Shazam identifies songs over 20 million times per day. In October 2016, Shazam announced its mobile apps have been downloaded more than 1 billion times, and users have performed more than 30 billion “Shazams” since launch.
The app has become such a part of pop culture that it even spawned it own game show, Beat Shazam, hosted and executive produced by Jamie Foxx.
It is not currently clear what changes will be made to the app after acquisition.