In a somewhat under the radar move, Google (GOOGL) purchased digital music service Songza for $39 million

Jay Soloff

Argonath Financial

In a somewhat under the radar move, Google (GOOGL) purchased digital music service Songza for $39 million. Of course, $39 million is just pocket change for Google, which has something like $57 billion in cash on hand. Still, the move is significant as it comes after Apple's $3 billion purchase of Beats. Now, Beats also has a successful hardware division (headphones), but AAPL was surely after its music streaming subscribers. Apparently, customized music playlist creation is the holy grail for figuring out consumer behavior. I can only assume that advertising on streaming music services is highly successful (see Pandora). Digital music streaming is a highly competitive field, but with Google and Apple involved, you can bet there's going to be some significant consolidation in the industry ahead. (VIEW LINK)

Jay Soloff
Research Analyst
Argonath Financial

I'm an investments analyst for a US-based independent investment research firm. My focus is on economics, options, and all types of stocks, but especially tech, Internet, and renewable energy companies. I have experience as a options market...


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