Apple Inc. is close to buying the company Shazam Entertainment Ltd. According to a source, the deal would give Apple ownership over the app with insight int people's individual musical interests. The deal comes in light of Apple's determination to increase subscriptions to its music-streaming service and its launch of its first smart speaker, the HomePod.
The Shazam app has connected with more than 1 billion people since its 2008 debut. The app allows users to identify an unfamiliar song by comparing it against a musical database. It then provides the song, artist, and an option to stream the song on Apple Music or Spotify. In this way, Shazam has been a top referral app for iTunes, allowing the streaming service to catch up with its rival, Spotify.
Apple is also looking to further integrate Shazam into its voice-and-search assistant, Siri. which has been using the app for music identification since 2014.
This is yet another way for Apple Inc. to increase its services and ensure its dominant hold on the tech industry. The deal also allows the company to expand its music services and use such for their marketing purposes for their products such as the HomePod.
https://www.wsj.com/articles/apple-close-to-buying-shazam-to-boost-music-business-1512783319
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