Apple Reportedly in Talks to Acquire Jay Z’s Tidal
Apple Inc. is reportedly in talks to acquire the Jay Z-helmed streaming music service Tidal, a streaming-music service run by rap mogul Jay Z. The Wall Street Journal reports that Apple could add Tidal to it's Apple Music service; but there is no official deal. And a spokesman for Tidal has claimed that there haven't been talks with Apple.
Jay Z bought Tidal in March 2015 for $56 million from Swedish company Aspiro; with 19 famous acts owning small stakes in Tidal and with millions in marketing.
Tidal charges $20 a month for a high-fidelity streaming of its catalog or $10 a month for standard-quality sound and has also featured exclusive releases from stars including Kanye West, Rihanna and Beyoncé; and its the only service that has Prince's catalog--which has seen a surge since his April 21 death.
Apple launched its Apple Music streaming service last year, and currently has 15 million paying subscribers to the service. Apple Music was based on the streaming service Beats, which Apple acquired with Beats Electronics for $3 billion in May 2014--along with music moguls Dr. Dre and Jimmy Iovine.
The thought of Jay and Dre as players in the same business conglomerate is interesting, to say the least.
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