As per TechCrunch, Apple is engaged with the finalizing of a deal relating buying of Shazam—an application that allows one to identify movies, songs and TV shows from audio clips. The deal is as per reports, approximately of $400 million, confirmed by the Recode.
The most obvious benefit of owing Shazam for Apple would be the firm’s amazing music and sound recognition technologies. According to The Wall Street Journal, this act would also be saving some amount of money that Apple spends on paying Shazam for sending the users to the iTunes store for the purchase of content, which made up the major amount of Shazam’s profits in the year 2016.
Shazam sends over a million clicks per day as per the reports of WSJ. Shazam also had a deal with Snapchat. It could not be said with clarity that how would this acquisition affect on any of the earlier made agreements.
Earlier this year Shazam introduced an augmented reality platform for brands, founding upon the visual recognition technology introduced back in the year 2015. The technology enables users to scan books, advertisements, posters, magazines and other physical products which could then produce product visualizations, 3D animations, and 360-degree videos.
If Apple is considering making its very own Google Lens, then this would be a good step towards achieving the goal. It would be building on the Apple’s already present ARKit efforts, which is the one big reason why iOS is a topmost platform for the AR developers.
With about above a million downloads, Shazam has been a famous app in its almost nineteen years of freedom, but the company only managed to make a $54 million revenue in 2016, at the same time losing $5.3 million during the same year indicating that the app still had a long way to go.
Now, being a part of Apple bringing in profits would not be an issue.