Apple just bought Shazam. What does it mean for the next iPhone?

Apple just bought Shazam. What does it mean for the next iPhone?

Apple has confirmed its acquisition of music recognition app Shazam in an effort to increase its music business.

Apple said Shazam would be a "natural fit" with its Apple Music streaming service and would help users discover new songs.

Apple has not disclosed the price, but multiple reports suggest that the company has bought the application for $400 million.

"Since the launch of the App Store, Shazam has consistently ranked as one of the most popular apps for iOS", Apple said in a statement released today.

While Apple already uses Shazam's music identification capabilities with its Siri voice assistant, it's possible that the company could integrate Shazam more deeply and seamlessly with its products and services.

Amazon Echo and Music Unlimited coming to 28 new markets
Amazon Prime Video finally launched for Apple TV a couple days ago , and the app is being featured heavily in the tvOS App Store. Remix is owned by Alphabet Inc, a company that is constantly trying to overcome the supremacy of Spotify and Apple Music.

The deal announced Monday will be a disappointment for some of Shazam Entertainment Ltd.'s investors, including Mexican billionaire Carlos Slim and venture capital firms Kleiner Perkins Caufield & Byers, Institutional Venture Partners and DN Capital Ltd. It is now unknown just how much the firm cost, but it does not exceed $1 billion.

This marks yet another music-related acquisition for Apple, after acquiring the Beats brand (in the form of Beats Music and Beats Electronics) back in 2014 for $3 billion and the TV show, Carpool Karaoke, last year.

Since it was founded in 1999, Shazam has offered a high-tech solution to listeners' agony over not recognising music on the radio or in shops and bars, letting users identify songs through their phones' microphones. It's also in a postition to remove the app from rival Google Play, making it an iPhone only option. "Today, it's used by hundreds of millions of people around the world, across multiple platforms", he continued.

If the reported valuation of the deal turns out to be true, then the acquisition cost is far less than the $1 billion valuation of Shazam during its last funding round. "We have exciting plans in store". Shazam's technology could be used in the company's music streaming platform Apple Music. Shazam launched new AR features earlier this year that could help Apple expand even more in that arena.

The reason this move is interesting is because Shazam isn't all that profitable.

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