01 July 2016, USA :
Apple is acquiring Jay Z’s Tidal music streaming service. Tidal is a subscription-based music streaming service that combines lossless audio and high definition music videos with curated editorial. The service has over 25 million tracks and 85,000 music videos.
Jay-Z, who acquired Tidal from Swedish company Aspiro in 2015 for $56 million has one, exceedingly important feature that Apple can’t match: artist support. It is said that Apple’s interest in Tidal could have more to do with building artist connections than the streaming service itself.
Jay Z’s rolodex runs deep, as evidenced by the major exclusives Tidal has landed in recent months. Bringing him and Beyonce into the Apple fold could help it capture some of those exclusives as it fights an increasingly nasty battle with Swedish rival Spotify. Tidal also has strong ties to popular artists such as Kanye West and Madonna.
Let’s hope this deal will turn the fortune for Apple, only time will tell!