The saying goes that if you can’t beat ‘em, join ‘em, but it seems like buy ‘em is an option just as effective. According to a report from The Wall Street Journal, Apple is undergoing “exploratory talks” to acquire Jay Z’s streaming service TIDAL and all its subsequent assets. It now seems that Jay Z will have at least a handful of problems to deal with.
TIDAL said in a statement that the company’s “executives had not yet held talks with Apple,” and though “terms of the potential deal aren’t yet known, this is a deal that would have enormous repercussions on both parties, the music industry, and normal streamers like you and me.
Despite having an incredibly rocky start, TIDAL has managed to hold its own this year in the world of subscription services, thanks in large part to massive releases like Kanye’s The Life of Pablo and exclusive streaming deals with artists like the late Prince. Nevertheless, the company has undergone critical botches, not the least of which being its floundering start last year.
An acquisition of TIDAL would also seriously up the ante in Apple’s struggle for dominance over its major competitor Spotify. Bringing TIDAL into the fold would give Apple access to a huge number of artists that amass enormous streams, not limited to Rihanna, Madonna and Mrs. Shawn Carter herself.
Again, it is too early in the preliminary process to speculate too deeply about the results, but what remains certain is Jay Z’s potential for the biggest paycheck of his life. He launched TIDAL with the aim of creating a high-quality streaming platform by artists for artists, but who needs that when you can get high-quality amounts of money?
Stay tuned for any further information regarding Apple’s latest hijinks.
In related news, Apple’s CEO Tim Cook has just inked an interesting new deal with Nike.