Google Inc. (NASDAQ:GOOG) acquire Music Streaming Service Songza

Technology Stocks News 11

Google Inc (NASDAQ:GOOG) confirmed the acquisition of Songza on Tuesday. Google’s capture of Songza, believed to cost Google more than $15 million, ends weeks of speculations surrounding the issue. Google Inc can use the technical platform of Songza for its own Music Streaming services while providing its promotional services for Songza to increase its listener base.

Google Inc(NASDAQ:GOOG) are not preparing to implement any immediate change to the Music Streaming company Songza. According to Google Inc (NASDAQ:GOOG), Songza will remain intact for users and nothing will change about the service for now, though Songza’s expertise will be applied to other Google Inc products like Google Play Music and YouTube.

With the Music Streaming industry witnessing a lot of competition, Google Inc (NASDAQ:GOOG) would be pleased to acquire Songza. Google already has Music streaming products, like its Google Play store, Google Play Music and YouTube, but for some time, Google has been searching for strong curation and recommendation engines. Songza would help Google Inc in providing the right technical platform.

Google Inc (NASDAQ:GOOG) News: Capture of Songza

Songza have a modest User base of around 5.5 million active users. However, they can significantly improve this number through the promotional platform of Google Inc. What stands out for Songza is its curation strategy. Songza organizes Music content for all its users based on style and genre. Moreover, Songza provides recommendations to the users based on their Mood and recent activity.

The playlists are curated by DJs and music journalists. Songza is available through its website, iOS, Android and Chromecast. Songza features can be expected to get rolled into the existing Google Inc Music Streaming products like YouTube, Google Play Store and Google Play Music.

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Google Inc Financial News (NASDAQ:GOOG)

The acquisition of Songza by Google Inc (NASDAQ:GOOG) follows Apple’s high-profile $3 billion acquisition of Beats Electronics. The acquisition of Songza would help Google Inc to keep pace with Apple as well as with Pandora and Spotify, who have a major market share. The acquisition of Google Inc (NASDAQ:GOOG) also highlights the growing importance of services that customize playlists as more people listen to music through Internet connections on their smartphones, tablets and personal computers.

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