Apple acquires big data start-up Semetric
London firm’s Musicmetric platform could be tied into relaunch of Beats Music streaming service
Semetric, a London-based start-up that runs the Musicmetric analytics tool, has been acquired by Apple; possibly in conjunction with the relaunch of Beats Music streaming music service later in the year.
Launched in 2008, Musicmetric uses big data to provide actionable analytics to music labels and industry clients, enabling them to track sales, downloads and social networking statistics for artists. The platform has plans to expand onto Youtube videos and audio streams over the next few years.
In January 2013 Semetric raised £3m to fund the expansion of its analytical platform into e-books, television, films and games – and formed a deal to integrate Spotify’s data into Musicmetric’s dashboard, becoming one of the most common ways for labels to track their spotify streams. The platform also carries out research into piracy, releasing a report to the music industry in 2012 claiming more than 3bn songs had been torrented in the first six months of the year.
Documents filed with Companies House earlier in the month show Semetric’s registered address was changed to 100 New Bridge Street in London – also the registered address of Apple Europe Ltd. Back in October 2014 senior Apple attorney Gene Levoff was appointed as a director of the company.
Apple are currently not discussing the deal, prompting speculation that the tech giant will use Musicmetric’s dashboard as its in house analytics tool alongside its relaunch of Beats Music streaming service – bought as part of a $3bn acquisition of Beats Electronics last year.
The news comes as another London-based tech start-up Shazam secured a $30m funding round, taking the company’s value to $1bn.
Semetric declined to comment, but in a statement to the Guardian, Apple released the following statement: “Apple buys smaller technology companies from time to time, and we generally do not discuss our purpose or plan,”