Samsung Is Negotiating With Rapper Jay-Z To Buy Tidal (Music Streaming Service)
|Samsung Is Negotiating With Rapper Jay-Z To Buy |
Tidal (Music Streaming Service)
Samsung is just one of many looking for the rights to the company. Google and Spotify have also thrown their hat into negotiations, however Samsung has currently shown the most interest after it was revealed the streaming service, originally of Swedish descent, has “big plans” yet to be revealed or teased.
"Samsung is re-engaging; they are working on something really big, and they’re keeping it very quiet in case it leaks,” The Post reports.
Despite its star powered-backing, Tidal has been struggling for some time to catch up to Spotify. The service was also quickly eclipsed by Apple Music, which managed to amass more than 11 million paying customers since its launch last summer.
Tidal’s last official subscriber count pegs the number of paying customers to one million. The service did see a significant uptake in recent weeks, thanks to a number of high-profile exclusives.
Most notably, Kanye West decided to make his latest album “The Life of Pablo” exclusive to the service this month.
There has been speculation that this and other exclusives have helped Tidal to grow its subscriber base to 2.5 million, but industry sources expressed skepticism about the accuracy of these estimates in conversations with Variety.
That being said, West’s Tidal exclusive make a whole lot more sense in light of ongoing acquisition
talks: West owns equity in Tidal, so any bump in subscribers could lead to a significant higher payout for him if a deal actually closes.
Jay Z bought Tidal in October 2014 for $56 million and relaunched it March 2015. Since the acquisition the streaming service has seen its fair share of issues.
Even though it’s premiered the albums of some of today’s biggest stars like Rihanna and Kanye West, the company went through three CEOs in a year and has been met with other criticisms.
It’s also reported that subscriptions for the app were much lower than those of Spotify or Apple Music