Apple is allegedly in talks to buy Tidal
The tumultuous existence of Jay-Z’s streaming platform Tidal may at last find respite. Apple is allegedly in talks with the struggling company, whose acquisition would offer exclusives from artists like Beyonce and Kanye West. According to The Wall Street Journal, the discussion is in early stages and may not ultimately result in a deal, but the exclusive opportunities that Tidal would bring to the table offer a competitive advantage over Apple’s main rival Spotify.
Apple has been pushing exclusive content of its own, including Taylor Swift’s 1989 World Tour documentary and Drake’s most recent album. Spotify has also been looking to up their exclusive offerings, recently hiring a Global Head of Creator Services in hopes of creating more opportunities for original content. In this realm, however, Tidal has beat out its competition. Kanye West’s The Life of Pablo and Beyoncé’s visual album Lemonade, for instance, were released exclusively on Tidal, with the latter still only available on the service.
At present time, Apple Music has half as many paying subscribers as Spotify; 15 million compared to Spotify’s 30 million and 100 million active users. Apple Music has been growing quickly, but the acquisition of Tidal could capture a market segment of potential streaming subscribers who don’t currently use streaming services. Spotify currently holds the dominant position in streaming wars, but that status may change if a Tidal-powered Apple Music (boasting noteworthy exclusives) becomes a reality.
H/T: Tech Crunch