It looks like Samsung wants a piece of TIDAL. The electronics giant has reportedly reopened talks surrounding an acquisition of Jay Z’s streaming service, according to the New York Post.
“Samsung is re-engaging; they are working on something really big, and they’re keeping it very quiet in case it leaks,” a source told the paper.
However, Samsung has remained mum on the situation. “It is our policy to not comment on rumors or speculation,” a Samsung spokesperson said.
Meanwhile, the streaming service, which is partly owned by artists including Beyoncé, Nicki Minaj, J. Cole, and Madonna, has declined to comment publicly.
While Google and Spotify are also rumored to be interested in acquiring or partnering with TIDAL, Samsung has had a longstanding relationship with Jay Z. The company partnered with Jigga on Magna Carta Holy Grail and paid a reported $25 million to sponsor Rihanna’s ANTI campaign and tour.
Despite who acquires or works with TIDAL, a change might actually work well for the streaming service. Although it’s recently enjoyed success thanks to two major exclusives, RiRi’s ANTI and Kanye West’s The Life of Pablo (which reportedly more than doubled subscriptions), the company is still facing “pressure,” according to an insider.
“TIDAL certainly needs a new home to stay alive,” a source added.
The streaming service is currently valued at $100 million, according to the Post. Hov and his team acquired the company from Aspiro in 2015 for $56 million.