Looks Like Samsung Won't Acquire Tidal After All
Jay Z and Samsung aren't reuniting to take over your mobile device.
In an interview with Variety, a representative shared the bad news after months of alleged meetings between the mogul and the company. "The rumor of Samsung acquiring Tidal is not true,” they said. Tidal has gone through many changes since it came into fruition in 2015. Currently, the company has welcomed its third CEO and has fired its COO and CFO earlier this month. The company is also considering moving its offices to New York.
As of lately, the company is on a winning streak due to huge releases from Beyonce, Rihanna, and Kanye West. Tidal gained a million subscribers after the release of West's album, The Life of Pablo. Samsung's role in promotion for Rih's ANTI release also helped propel curiosity about the company's alleged partnership with Tidal.
The company is currently facing trouble with their own music streaming app, Milk Music. The brand was created to compete with Pandora but didn't resonate with consumers. Variety previously reported employees from the brand have exited the company or moved to different sectors. Presentations for the Galaxy S7 and S7 Edge smart phones didn't feature the app.