Apple reportedly in talks to purchase Tidal music streaming service
- Author: Michelle Webb Jul 02, 2016,
Jul 02, 2016, 0:40
Talks between the companies are ongoing and might not result in a tie-up, the Journal said, citing unnamed people familiar with the matter.
Tidal offers a standard £10 per month music offering in line with Apple Music and Spotify, but also offers a £20 per month CD-quality streaming option. Privately held Spotify, meanwhile, had 30 million subscribers as of March and had more than 100 million monthly active users as of this month.
Apple may be looking to buy Tidal, the music steaming service owned by Jay-Z.
If the Apple/TIDAL deal does go through it could be good for consumers to gain access to an even bigger music catalog on a Apple device.
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A potential deal with Tidal would bring two of the most legendary names in hip-hop to Apple's camp, uniting East Coast and West Coast rap under a single business interest.
This rumoured Tidal purchase isn't the first.
An Apple acquisition would prevent Tidal exclusives that might sway listeners away from Apple Music, plus it could help Apple compete with Spotify.
Jay Z initially purchased Tidal for $56 million just over a year ago from Swedish company Aspiro.
The music service charges a subscription fee to stream music and music videos without ads. In a letter sent three months ago, the entrepreneur accused Tidal's Norwegian seller, Schibsted ASA, of overstating subscriber numbers. Both Apple and Tidal have declined to comment on the rumors.