Apple in talks to buy Tidal -cnbc
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Apple in Talks to Acquire Jay Z’s Tidal Music Service
Sources say talks are ongoing and may not result in a deal
ENLARGE
Usher, Rihanna, Nicki Minaj, Madonna, Dead Mouse, Kanye West, Jay Z, Jason Aldean, Jack White, Daft Punk, Beyoncé and Win Butler attended the Tidal launch event on March 30, 2015, in New York City. PHOTO: KEVIN MAZUR/GETTY IMAGES FOR ROC NATION
By
DAISUKE WAKABAYASHI,
HANNAH KARP and
PATIENCE HAGGIN
Updated June 30, 2016 6:27 p.m. ET
1 COMMENTS
Apple Inc. is in exploratory talks to acquire Tidal, a streaming-music service run by rap mogul Jay Z, according to people familiar with the matter.
The talks are ongoing and may not result in a deal, these people said. Apple is exploring the idea of bringing on Tidal to bolster its Apple Music service because of Tidal’s strong ties to popular artists such as Kanye West and Madonna.
Terms of the potential deal aren’t known.
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Jay Z bought the service in March 2015 for $56 million from Swedish company Aspiro. He launched the service under the brand Tidal a month later. He has given 19 famous artists and bands small stakes in Tidal and promised each millions of dollars worth of marketing, according to people familiar with the matter.
A Tidal spokesman said Tidal executives had not held talks with Apple.
Tidal charges $20 a month for a high-fidelity version of its 40-million-song catalog or $10 a month for standard-quality sound. Tidal said it has 4.2 million paying subscribers.
But the company has experienced management turmoil, churning through three chief executives, including one hired by previous management and one interim, in less than a year. Jeff Toig, former chief business officer of SoundCloud, a Berlin-based audio-sharing service, has been CEO since January.
Tidal has held exploratory talks beginning last year with other potential partners, such as the streaming service Rhapsody, according to a person familiar with the matter. Rhapsody recently changed its name to Napster.
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The news of the talks comes about a year after Apple launched its own streaming music service, Apple Music. Apple said June 13 that it had 15 million paying subscribers to the $9.99-per-month service for individuals. The same day, Apple said it would redesign Apple Music in the fall as part of an update to its iPhone software, to address complaints that the software was confusing and hard to navigate.
Apple has been working to secure close relationships with recording artists. It has provided marketing assistance to artists, while also helping to pay for music videos for high-profile artists in exchange for a certain period of exclusivity on Apple Music.
Write to Daisuke Wakabayashi at Daisuke.Wakabayashi@wsj.com, Hannah Karp a
Apple in Talks to Acquire Jay Z’s Tidal Music Service
That would be huge.
Sources say talks are ongoing and may not result in a deal
Usher, Rihanna, Nicki Minaj, Madonna, Dead Mouse, Kanye West, Jay Z, Jason Aldean, Jack White, Daft Punk, Beyoncé and Win Butler attended the Tidal launch event on March 30, 2015, in New York City. PHOTO: KEVIN MAZUR/GETTY IMAGES FOR ROC NATION
By
DAISUKE WAKABAYASHI,
HANNAH KARP and
PATIENCE HAGGIN
Updated June 30, 2016 6:27 p.m. ET
1 COMMENTS
Apple Inc. is in exploratory talks to acquire Tidal, a streaming-music service run by rap mogul Jay Z, according to people familiar with the matter.
The talks are ongoing and may not result in a deal, these people said. Apple is exploring the idea of bringing on Tidal to bolster its Apple Music service because of Tidal’s strong ties to popular artists such as Kanye West and Madonna.
Terms of the potential deal aren’t known.
–– ADVERTISEMENT ––
Jay Z bought the service in March 2015 for $56 million from Swedish company Aspiro. He launched the service under the brand Tidal a month later. He has given 19 famous artists and bands small stakes in Tidal and promised each millions of dollars worth of marketing, according to people familiar with the matter.
A Tidal spokesman said Tidal executives had not held talks with Apple.
Tidal charges $20 a month for a high-fidelity version of its 40-million-song catalog or $10 a month for standard-quality sound. Tidal said it has 4.2 million paying subscribers.
But the company has experienced management turmoil, churning through three chief executives, including one hired by previous management and one interim, in less than a year. Jeff Toig, former chief business officer of SoundCloud, a Berlin-based audio-sharing service, has been CEO since January.
Tidal has held exploratory talks beginning last year with other potential partners, such as the streaming service Rhapsody, according to a person familiar with the matter. Rhapsody recently changed its name to Napster.
Advertisement
The news of the talks comes about a year after Apple launched its own streaming music service, Apple Music. Apple said June 13 that it had 15 million paying subscribers to the $9.99-per-month service for individuals. The same day, Apple said it would redesign Apple Music in the fall as part of an update to its iPhone software, to address complaints that the software was confusing and hard to navigate.
Apple has been working to secure close relationships with recording artists. It has provided marketing assistance to artists, while also helping to pay for music videos for high-profile artists in exchange for a certain period of exclusivity on Apple Music.
Write to Daisuke Wakabayashi at Daisuke.Wakabayashi@wsj.com, Hannah Karp a
Apple in Talks to Acquire Jay Z’s Tidal Music Service
That would be huge.
ALonelyDad
Veteran
They want in on the desiigner exclusives
OnlyInCalifornia
Southern California/Vegas
Tidal lying to get people to invest???
Apple Music operates just fine with Tidal in the same space.
Though I seen them trying to expand into video too so maybe that's what they would want Tidal for.
Apple Music operates just fine with Tidal in the same space.
Though I seen them trying to expand into video too so maybe that's what they would want Tidal for.
Patrick Kane
Superstar
Hov's plan all along
Buy low sell high
Glad I supported and put some money in a black mans pocket
Get that money, Hov!
Vinny Lupton
Superstar
The word "finesse" got ruined by people like you with lots of free time and no money. If you need to ciecumvent a $2.50 per week charge you're doing life wrongHow Tidal making money if everybody got finesse like me? I had that shyt since launch on different free trials
If you fell for the ethical sales pitch
Apple
Droid Gang
Google should've copped'em
No company is stupid enough to be bought by Google nowadays. Just look at Youtube and its ad infestation.
Ghostface Trillah
God-level poster
The fact that hov would even entertain the idea of selling to Apple is disrespectful to everyone he bamboozled into believing that artist were victims and independent artist would flourish there.
Prince probably rolling over in his grave. He left his masters to a independent black owned company that's in talks to slide them right over to a corporation
Prince probably rolling over in his grave. He left his masters to a independent black owned company that's in talks to slide them right over to a corporation
Vinny Lupton
Superstar
SleezyBigSlim
Banned
Hov about to cash in. This is how you run a Internet related business brehs. Build it up and Sell it to the highest bidder. All hail King Hov, bow bytches
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