Apple Owns UK Startup Semetric, The Company Behind Musicmetric
Apple has bought the UK startup Semetric, which is behind Musicmetric analytics tool.
Earlier in January, a document was filed with Companies House, in which Semetric changed its address to 100 New Bridge Street in London. The address belongs to a law firm named Baker & McKenzie, and is also Apple Europe’s registered address. Not only that, but Gene Levoff, who is Apple’s senior attorney, was appointed as one of the board members of Semetric back in October 2014.
Once the news broke, Apple revealed the following statement, regarding why they kept this deal under wraps:
Apple buys smaller technology companies from time to time, and we generally do not discuss our purpose or plan.
On the other hand, Semetric hasn’t yet commented on this situation.
Musicmetric was released back in 2008, and is a way for the music industry to track the overall sales of a certain song or music related to a certain artist.
In January 2013, Semetric raised £3 million of funding for the purpose of expanding their business to eBooks, films etc.
It’s strange that Apple isn’t discussing the reason behind their acquisition of Semetric, but it seems to be related to their rebranding plans for Beats Music Streaming service — the service which came as part of a $3 billion deal which lead to the acquisition of Beats last year.
The rebranding will most likely be under the company’s iTunes brand. Some reports suggest that Apple plans to ask music labels to reduce streaming subscription costs and keep them in under $10 a month.
Piracy is a huge issue for music companies as a huge amount of users tend to download pirated music. Convincing music labels to reduce subscription prices will take some hard work on Apple’s part. But, if Apple manages to do so, it might help with the fight against piracy, as more users might start to prefer streaming over downloading pirated music.
Apple’s acquisition of Semetric will be profitable for the company as music labels and artists, will be using this service to track their performance in terms of streams and sales within the digital walls of iTunes.
Apple hasn’t revealed how much it paid to buy Semetric and it probably never will. Only time will let if the company will be successful in branding Beats or not.
Sikander is a gamer at heart and loves to write about the latest technology trends. He does it all in the name of Techfrag!