Apple 🍎 is acquiring 😱 music recognition app Shazam

  |   Tech News

As Spotify continues to inch towards a public listing, Apple is making a move of its own to step up its game in music services.

Sources tell us that the company is close to acquiring Shazam, the popular app that lets people identify any song, TV show, film or advert in seconds, by listening to an audio clip or (in the case of, say, an ad) a visual fragment, and then takes you to content relevant to that search.

But in the world of apps, high numbers do not always translate into profits: In September 2017, Shazam reported made £40.3 million ($54 million) in revenues in its 2016 fiscal year, which was a turnaround from the declines between FY 2014 and 2015.

The company's CEO Rich Riley noted earlier this year, however, that operating at or near profitability is the intention as it's been growing; and he also hinted that the company was, as a result, likely an acquisition target.

It's not clear what will carry on post acquisition, and which of these might be something that Apple would integrate into its own business (and how), but it's notable that much of what Shazam does is very synergistic with what Apple is working on already: AR, and more features to attract more users to the Apple Music platform.

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