Apple Reportedly Not Interested In Purchasing Tidal
Posted 5 years ago
Not everything Kanye West says goes, unfortunately for him. Despite his wished, Apple Music apparently has no desire in acquiring Jay-Z’s music streaming service Tidal.
Kanye, the boss of G.O.O.D. Music, once proclaimed that Apple should “give Jay-Z a check” for his music streaming service. However, Jimmy Iovine, an Apple Music executive, told news website Buzzfeed that they have no intention of purchasing Tidal.
“We’re really running our own race,” said Iovine in the interview. “We’re not looking to acquire any streaming services.”
In the past, there had been many rumors regarding the possibility that both companies had engaged in private talks to discuss a potential merger, though now these rumors have been officially debunked.
Tidal and Apple Music are the biggest and most publicized music streaming services in the industry, along with Spotify.
Both companies have stuggled to gain a foothold in the competitive music streaming marketplace, and both companies have offered exclusive content for their customers. Tidal has premiered exclusive albums by artists such as Rihanna, Kanye West, and Beyonce, while Apple Music has premiered albums by Drake, Chance The Rapper, and Frank Ocean.
Aspiro AB, Tidal’s parent company, unfortunately suffered a $28 million loss last year. However, the company’s business revenue increased by 30% in the same time frame. Jay-Z, Kanye West, and several other entertainers became part owners of Tidal when it was first introduced last year.