Apple Buying Jay Z’s Tidal Streaming Services?
Apple Inc. is reportedly looking to acquire Tidal, a music streaming service owned by rapper Jay Z, to boost the Apple Music services. The exploratory talks are being held between the two companies because Apple is looking to take advantage of Tidal’s association with stars like Kanye West and Madonna.Advertisement
Tidal may have a comparatively smaller number of subscribers, but the streaming service boasts of ties that gave it some of the most sought after exclusives than any streaming service. The deal may not even materialize. But if it does, it certainly would be a huge development in the music streaming industry.
The list of stars associated with Apple is already huge, but the ones who signed up to be associated with Tidal have chosen to remain greatly loyal to it. Tidal has managed to create a spot for itself by presenting few of the most anticipated music releases of the year, which will be available exclusively on its platform, Forbes reported.
However, the terms of the potential deal aren’t immediately clear. Fox News reported that the company was acquired by rapper king Jay Z for $56 million in March 2015, a month after which he launched the service under the brand Tidal. The 19 famous artists and bands that own stakes in the company were assured publicity worth millions of dollars for being a part of it.
Apple is also not too far behind in making exclusive debuts on its music streaming platform. Drake’s “Views” which made a debut on Apple Music earlier this year went on to become the album with the highest number of streams in history.
And if the deal with Tidal works out, Apple would be able to bring on board a host of stars with their much-awaited lists of exclusives. It will also become a leader in the arena of exclusive music streaming.