Tidal, Jay Z’s music streaming service, might have a new home under the Apple umbrella.
According to The Wall Street Journal, Apple hasn’t announced it’s plans just yet, as negotiations are ongoing. The idea to acquire Tidal was inspired by the company’s powerful ties to major celebrities like Beyonce and Madonna. It is also the only streaming service to contain the entire discography of the late singer Prince, who endorsed the company before his death.
BREAKING: Apple in Talks to Acquire Tidal, Jay Z's Streaming-Music Service – Dow Jones
— CNBC Now (@CNBCnow) June 30, 2016
While Apple Inc. hasn’t dismissed the reports, a Tidal spokesman says head execs haven’t spoken to the company. Tidal came to fruition in March 2015 when Jay Z purchased the service from Swedish company Aspiro for $56 million. It went on to be a champion of the independent artists as the company assured allegiance to the artist by giving them freedom and more money for streaming their songs. It also began to show potential with the presentation of music specials from Rihanna and exclusive releases of Beyonce’s Lemonade and Kanye West’s The Life of Pablo albums.
Backlash ensued due to the $20 a month charge for high-fidelity tracks, despite their normal $10 option for listeners. There was also the constant revolving door of chief executives. Jeff Toig, the former chief business officer of SoundCloud has held the CEO title since January. Jay Z himself even took to Twitter to explain his view of Tidal and it’s allegiance to artists.
Meanwhile, Apple Music has housed special deals of their own. With a year under its belt, the company has released exclusives like Drake’s Views and new music through Beats 1 Radio.