Apple Inc. (AAPL) Will Buy Shazam To Further Bolster Its Music Presence

AAPL Stock Rebounds After Apple Buying Shazam Report

Later that year, it arrived on Android, and it has continued to maintain a strong userbase.

Apple also now pays Shazam a small fee when the app identifies a song and sends a user to Apple Music to buy the track.

Shazam has been popular for almost 19 years of operation, and has over 1 billion downloads.

Apple would obviously want to use Shazam to bolster its music business - and drive sales and subscriptions from users who "Shazam" songs. For one, it could be integrated into the next version of iOS to identify songs on the go much like the Google Pixel 2 can, while the identification company's AR technology could also be used to improve ARKit.

Shazam's technology was introduced in 2002 as a dial-up service that would listen to a song for 30 seconds and send its user a text message identifying it.

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Earlier today, we reported that YouTube was gearing up to finally take a step into the streaming game with a new platform called Remix. 20 million times a day.

You might remember the commercial that Apple ran during the early days of the App Store.

Over the years, Shazam has raised more than $143 million in funding, and in 2015 it reached a $1 billion valuation, which is significantly higher than the price Apple is reportedly expected to pay. It is not clear what will turn out of this acquisition, but it will definitely serve as value addition to Apple Music and company's augmented reality efforts.

The move would make sense for Apple on a few fronts. Shazam right now lets users scan magazines, posters, books, advertisements, and other physical products which then launch 3D animations, 360-degree videos, and product visualizations.

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