Tech behemoth Apple is reportedly in discussions to acquire Tidal, the music-streaming app supposedly more favorable to artists, and fronted by rapper Jay Z.
Hov has always recognized the power of leveraging celebrity, and he brought on artist co-owners from the beginning, including Alicia Keys, Calvin Harris, Arcade Fire, Chris Martin, Beyoncé, Daft Punk, Jack White, J. Cole, Jason Aldean, Kanye West, Deadmau5, Madonna, Nicki Minaj, Rihanna and Usher.
Sources say that talks are still in the early stages and may not end in a deal, but that Apple is really interested in the exclusives Tidal has been able to get, including Kanye West’s The Life of Pablo album and Beyoncé’s “Lemonade” video.
Jay Z bought Tidal in 2015 for $56 million, and though it foundered at first, the site has come roaring back in recent months with exclusive partnerships with some of music’s biggest artists, including Prince. Tidal was the only legitimate source for the pop star’s entire music catalog after he died in April.
Music streaming is seen as the next frontier. There have been rumors that Apple plans to to discontinue its iMusic store in favor of Apple Music, which has garnered a few exclusives of its own, including a deal with Drake. In a heated competition with Spotify, a Tidal deal could bolster Apple’s arsenal against the bigger music-streaming company.
We all know that Apple made producer Dr. Dre a billionaire in 2014 when it partnered with him on his Beats headphones, so you know Jigga is looking to make a pretty penny if this deal goes through.
Stay iTuned …