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Stock impact report

EU opens competition probe into Apple's bid for music app Shazam [Reuters]

Apple Inc. (AAPL) 
Last apple inc. earnings: 4/30 04:30 pm Check Earnings Report
US:NASDAQ Investor Relations: investor.apple.com
Company Research Source: Reuters
EU opens competition probe into Apple's bid for music app Shazam | Reuters 2 Min Read BRUSSELS (Reuters) - EU antitrust regulators opened an investigation on Monday into Apple’s bid for British music discovery app Shazam, concerned the deal might give the iPhone maker an unfair advantage in poaching users from its rivals. Apple announced the deal in December to help it better compete with industry leader Spotify. Shazam lets users identify songs by pointing a smartphone at the audio source. The European Commission said it was concerned about Apple’s access to data on Shazam’s users who use competing music streaming services in Europe. “Access to such data could allow Apple to directly target its competitors’ customers and encourage them to switch to Apple Music. As a result, competing music streaming services could be put at a competitive disadvantage,” the EU competition enforcer said. The investigation will also examine whether Apple Music’s competitors would be harmed if Apple halt Show less Read more
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