A source has told the Wall Street Journal that Apple are in talks to buy out Jay-Z’s Tidal Music Streaming Service.
Apple Music, the company’s own streaming service, has thus far only been perceived as moderately successful, as it recently surpassed 13 million subscribers. Many believe the lack of success is down to too much competition in the crowded market place. Acquiring Tidal, which has similarly struggled to take off, would solve that problem. It would also give Apple access to Tidal’s substantive exclusive material.
If the rumours were true, it would likely ensure a serious pay-out for the numerous artists invested in Tidal, including Rihanna, Madonna, and Pharrell.
Tidal was launched as an alternative streaming site, with the idea that a focus on sound quality would drive revenue. However, the launch of the service has been marred with difficulty, including confusion over launches, an extremely public fall out with the world’s largest record label over Rihanna, and resistance from customers to pay the subscription charge.
It was previously alleged that Jay had hoped to back away from the project, and that he had held talks with Samsung about obtaining the service.
All of this may just be part of the rumour mill that surrounds Jay and Bey in 2016, however, for a publication as well-regarded as The Wall Street Journal to publish the story suggests some substance.
A Tidal spokesperson denied that any talks with Apple had taken place.