Google Inc has acquired streaming music service Songza, the Internet search company's latest move to play a bigger role in the fast-growing online music business. Google said on Tuesday it would explore ways to incorporate aspects of Songza into its existing streaming music service over the coming months. For now the four-year-old Songza service, which creates "expert-curated" music playlists intended to match users' activities and tastes, will remain unchanged for existing users.Google did not provide financial terms of the deal, though a report in the New York Post earlier this month citing unnamed sources said Google had offered to purchase the company for $15 million.The deal comes one month after Apple Inc acquired Beats for $3 billion. Apple's purchase of Beats, which also touted its expertise curating music playlists, was viewed as an effort to jump-start Apple's position in the fastest-growing segment of the music market.Sales of digital music downloads have declined in recent months, while streaming services such as Pandora Media Inc and Spotify have become increasingly popular with consumers.
Apple Inc. (Apple) designs, manufactures and markets mobile communication and media devices, personal computers, and portable digital music players, and a variety of related software, services, peripherals, networking solutions, and third-party digital content and applications. Shares of AAPL traded higher by 0.76% or $0.71/share to $93.64. In the past year, the shares have traded as low as $57.32 and as high as $95.05. On average, 67059100 shares of AAPL exchange hands on a given day and today's volume is recorded at 34920188.
Google Inc. (Google) is a global technology company. Shares of GOOG traded higher by 1.38% or $7.92/share to $583.20. In the past year, the shares have traded as low as $502.80 and as high as $604.83. On average, 2247580 shares of GOOG exchange hands on a given day and today's volume is recorded at 1278891.
Pandora Media, Inc. (Pandora), is an Internet radio in the United States. Shares of P traded higher by 0.34% or $0.1/share to $29.60. In the past year, the shares have traded as low as $17.54 and as high as $40.44. On average, 10759100 shares of P exchange hands on a given day and today's volume is recorded at 5218277.
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