Business, Ecommerce

Google is planning to acquire music streaming service Songza

In order to launch a standalone Youtube music service, Google is in talks to acquire Long Island City-based music curation and streaming service, Songza, according to the New York Post. The deal amount is expected to be around USD 15 million. Post acquisition, the company will work together with the music service platform, Bitspin, acquired this year by Google for an undisclosed amount.

 iamwire Take: Google already has its music streaming products, such as its very own Google Play Music and Youtube, hence this acquisition is worth noting. However it is not clear whether it will integrate Songza’s features into its own services or will let it run independently.

Also Read: Google to move into home security space

 Mashable says: The six-year-old Songza specializes in curation by music experts that’s designed to match your mood. The company has raised USD 6.7 million in total; last September, it raised USD 4.7 million and began developing native advertising for Vitaminwater, Taco Bell and Samsung, among others. The ads play during sponsored playlists of 50 to 60 songs that include a banner ad and a 15-second video. Songza also offers Club Songza, an ad-free version with a USD 0.99 per week subscription.

Venture Beat says: Google has no shortage of streaming music products. The company has a Google Play store that competes with iTunes and Amazon, its Google Play Music All Access premium-subscription service, a Google Music library service, and YouTube, which is technically the most popular streaming music service in the world despite focusing on video.

So, why the heck does it want to buy Songza?

Well, for at least two big reasons: First, Songza is better than All Access and more cohesive than YouTube when it comes to music. And second, Songza’s employees might be attractive to Google as it determines how to best proceed now that Apple has its own premium streaming music service in Beats.

Aside from that, Songza has a decently large active base of listeners (5.5 million per month), plus its valuation is far lower than major streaming music competitors Pandora (USD 5 billion market cap) and Spotify (USD 4 billion valuation). 

The Queens Courier says: “We’ve always been keen in figuring out the best way to help people discover music,” said Davich, Co-Founder at Songza. “Music is something that people consume as a lifestyle enhancement. It’s not something people consume as a product.”

More from New York Post: The Songza home page has suggestions for playlists, like “working in an office,” or “boosting your energy.” Songza’s daily offering even offers up music to listen to while you’re in the bathroom. If you need to know, Johnny Cash’s “Ring of Fire” and Salt n’ Pepa’s “Push It” are top choices to listen to in the loo, according to Songza’s Web site.

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