Digital Media

Apple washes out rumours of a Tidal buyout

Apple Music boss Jimmy Iovine says Apple has no plans to buy any streaming services.

beyoncetidalgetty.png

Beyonce performs at a Tidal event in New York.

Kevin Mazur/Getty

Apple is denying plans to buy rival music streaming service Tidal.

"We're really running our own race," Apple Music boss Jimmy Iovine told BuzzFeed in a story published Wednesday.

Iovine played down rumours that Apple could end the rivalry between the two relatively new streaming services by buying Tidal, owned by rapper and business mogul Jay Z.

"We're not looking to acquire any streaming services," Iovine said.

Apple Music and Tidal are both playing catch-up with Spotify, which just topped 40 million paying subscribers. Both Apple and Tidal have put a lot of stock in exclusive new material from major stars. Although Tidal has megastars such as Beyonce and Kanye West on board, the service lost a reported $28 million last year (around £21m or AU$37m).

Apple did not immediately respond to CNET's request for comment.

This story originally published at 3:32 a.m. PT/11:32 a.m BST.
Update, 7:04 a.m. PT/3:04 p.m. BST: CNET contacted Apple for comment.

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