Apple Acquires Shazam and Its Song-Recognition App
12 December 2017 - 6:42AM
Dow Jones News
By Tripp Mickle
Apple Inc. said it has acquired Shazam Entertainment Ltd.,
giving it ownership of one of the popular song-recognition apps at
a time the iPhone maker is looking to boost its music-subscription
service.
Financial terms of the deal weren't disclosed.
Apple said Monday it has "exciting plans" for Shazam but
declined to disclose more. Shazam said Apple would enable it to
"continue innovating."
The acquisition gives Apple ownership of an app that helps users
identify unfamiliar songs. Users are often directed to listen to
those songs at Apple Music or Spotify, helping those services
possibly reach new subscribers. Such referrals could help Apple
boost the number of subscribers to its streaming-music service from
its current 30 million. Spotify AB says its service has 60 million
paid subscribers.
Write to Tripp Mickle at Tripp.Mickle@wsj.com
(END) Dow Jones Newswires
December 11, 2017 14:27 ET (19:27 GMT)
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