Apple Acquires Shazam and Its Song-Recognition App

By Tripp Mickle Features Dow Jones Newswires

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.

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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

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December 11, 2017 14:27 ET (19:27 GMT)