Major Companies May Be Competing To Buy Tidal
Samsung, Google, or Spotify may acquire Tidal for a $100 million valuation reports say.
The streaming world might be able to sleep easy now, or at least listen to music easier. According to the New York Post, mobile company, Samsung may be in the works of acquiring Jay Z's streaming site, Tidal.
While this may be some big news, Samsung might be in competition with a few other major corporations. The Post also cites Google and Spotify as interested buyers. Samsung however, has positioned itself as a frontrunner, with plans of doing something "really big," according to Billboard.
Tidal and Samsung joining forces wouldn't be too much of a surprise, seeing how the two powerhouses have previously done business. In 2013, Jay Z shook hands with Samsung to gift one million fans with free downloads of Jigga's Magna Carter Holy Grail. And again, earlier this year, Samsung partnered with Tidal and Rihanna to release her eighth studio album ANTI, with a giveaway that the singer announced via her Twitter account.
"Samsung is re-engaging; they are working on something really big, and they’re keeping it very quiet in case it leaks,” a source told The Post. The source also revealed a potential valuation of $100 million.
Whether Tidal partners with Samsung, Google or Spotify, this may mean good news to music lovers and ultimately, an end to Tidal's unfortunate reviews. Since its inception, the streaming app has been criticized for its exclusivity and glitchy system. The site is currently withholding Kanye West's highly anticipated album, The Life of Pablo from other popular streaming sites (including Spotify). The site also fumbled with releasing albums.
Right now, Tidal holds 1 million subscribers, which has fallen well behind Spotify and Apple Music, both containing over 10 million subscribers. Maybe this partnership will help Tidal out and music goers who aren't interested in Googling Beyonce's "Formation" every time they want to listen to it.