Report: Apple in Talks to Acquire TIDAL
Is Jay Z joining forces with Apple?
The tech giant is reportedly in talks to acquire TIDAL, according to The Wall Street Journal.
Sources close to the situation claim that negotiations are ongoing, however no official deal has been reached yet. Similar whispers appeared back in February, when it was reported that Samsung was looking to purchase TIDAL. Eventually, the company denied the rumors.
If the Apple partnership materializes, it would shake up the landscape of music streaming. Currently, Apple and TIDAL are two of the largest entities competing with Spotify at a time when consumer habits are rapidly changing. If the deal becomes real, Apple would also benefit from TIDAL’s exclusive artist connections with a roster that includes Beyoncé, Kanye West, Rihanna, and Madonna, among others.
Jay Z purchased the streaming service TIDAL from Swedish company Aspiro in March 2015 for a reported $56 million. Since then, its subscription numbers have escalated, thanks in large part to those artist exclusives. This year alone, the company has benefited from releases like Mr. West’s The Life of Pablo, Queen Bey’s LEMONADE, and Rihanna’s ANTI.
Of course, Apple also has star power on its team. Drake, Future, DJ Khaled, and Chance the Rapper, for example, are just some of the acts who’ve unleashed exclusive content through Apple Music in the past year.
When reached for comment, a TIDAL spokesperson told The Wall Street Journal that TIDAL executives had not held talks with Apple.