Music Data Service 'Bought' by Apple

Apple has reportedly acquired UK-based music analytics start-up Semetric, provider of the Musicmetric tool which allows music industry clients to track sales, downloads and social media metrics for their artists.

A report in The Guardian cites the fact that Semetric appointed one of Apple's senior attorneys to its board of directors in the autumn, and has now changed its registered address to the address of Apple's legal partner in the UK; while the Financial Times says a source 'familiar with the transaction' suggested a price of about $50m for the c.40-person London-based company.

Neither Apple nor Semetric has commented on the reports, but analysts suggest the consumer products giant will add Semetric's data and tools to Beats, the streaming service it acquired for $3bn last May.

Web site: www.musicmetric.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.