Word is on the street that technology giant Apple will be bearing new fruit in the form of Jay Z’s Tidal. The streaming service which received his endorsement roughly one year ago when he bought the service singlehandedly is also associated with massive celebs like Kanye West and Madonna, may soon be incorporated into Apple Music services.
While this is almost mainly just talk with no guarantee that it will materialize into an actual deal, the potential payout – which hasn’t been revealed either – will be enough to be raving about.
Up until March 2015, the service was owned by Swedish company Aspiro until it was bought by the rap mogul for $56 million. While Jay Z isn’t directly credited with the brand’s conception, he’s become the mascot celeb that instantly comes to mind whenever the streaming service is mentioned. Jay Z’s presence was empowering as he eventually invited a lot of massive names to the party, by passing on small stakes in Tidal to as many as 19 other famous artists.
While hype about the potential Apple acquisition has already gone viral, a Tidal spokesman has denied any talks have been had with Apple, but this is believed to be a buffer, with the interest of maintaining discretion until a concrete deal is in place.
Spotify had been all the rage as the number one streaming service, but Tidal was quick to rise up as competition through its superior services which go up a notch in terms of quality and more recently the breadth of its catalog. While its subscription fee is still slightly more expensive than Spotify, it becomes well worth the deal with what you as a listener are given access to as a result, provided the service is both available in your country and of course internet connections are up to standard.
For a $20 subscription fee, roughly the price of one CD, the listener is given access to a 40 million song catalog. For $10, you get the same access but at standard-quality. Tidal has seen waves of fortune roll in over the course of the past year owing to a slew of exclusive content the likes of Kanye West, Rihanna and Jay Z’s beloved, noneother than his wife Beyonce. It is also the only streaming service to boast the catalog of late pop star Prince, owing to the late and deeply missed star’s ties to the rap mogul as a close friend and confidante.
Behind the scenes, Tidal, as contrasted to rival streaming services, enjoys great rapport with the artists featured on its service by ways of ensuring high profit margins for the said artists, as compared to ad-supported services like Spotify, a non-transparent system which has disgruntled many celebs.
The takeover is being planned to bolster Apple Music’s otherwise waning streaming service which did not take off from the ground as expected.
The potential purchase comes roughly a year after rap legend Dr. Dre turned billionaire overnight after Beats was acquired by Apple in August of 2014. Should a deal with Tidal materialize, the colossal tech giant would have brought two of the biggest hip hop names under its ever expanding wing and into the fold of one of the most pioneering tech empires that is constantly reinventing itself. And while Tidal has merited a reputation of transparency amongst the artists it represents up to date, it’s questionable as to whether this quality will be compromised in light of this deal. Watch this space for more updates…