According to a new report, Apple is reportedly in talks to acquire Jay Z’s streaming service, Tidal, in a bid to bolster Apple Music.
Apple’s acquisition of Beats Music and its ongoing wars with Spotify might be the stuff of legend, yet it would seem there’s still more blood to be shed in the streaming wars. A new report indicates that Apple may now be in talks to acquire Jay Z’s music streaming service, Tidal.
The Wall Street Journal reports that Apple is in talks to acquire Tidal in a bid to supplement Apple Music. Sources have cited that, presently, the talks are said to be ‘exploratory’ and ‘may not result in a deal’.
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A Tidal spokesperson reportedly refuted the claim and told The Wall Street Journal that the company’s executives are not in talks with Apple, and that the terms of the acquisition deal are, as yet, unknown.
Tidal launched in 2014 as an independent company and was acquired by American rapper Jay Z in January of 2015, before being relaunched in March the same year.
The service’s brand strategy has relied upon offering ‘high-quality lossless audio’, as well as high definition music videos. Subscribers can opt for one of two offerings; a standard plan for $9.99 USD per month, or a ‘HiFi’ plan for $19.99 USD per month.
Apple is reportedly considering the acquisition due to the service’s strong connections with headlining artists such as Kanye West, Beyonce, and Madonna.
Apple Music turned one year old yesterday on the 30th of June, and has reached more than 15 million paying subscribers.
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What are your thoughts on Apple’s potential acquisition of Tidal? Be sure to let us know your opinion in the comments below!
Follow Bryan Smith on Twitter: @bryansmithSA
