Apple said to be in talks to acquire music service Tidal
Apple may be looking to bolster its music offerings with the addition of the Jay Z-owned subscription service, the Wall Street Journal reports.
Apple may soon be beefing up its music offerings with the addition of Tidal.
The Cupertino, California, tech giant is in talks to acquire the subscription streaming-music service co-owned by Jay Z, Beyonce and Kanye West, according to the Wall Street Journal. Talks are said to be ongoing and may not result in a deal, unidentified sources described as familiar with the negotiations told the WSJ.
Apple declined to comment on the report. Tidal did not immediately respond to a request for comment.
Jay Z purchased the service in 2015 for $56 million from Swedish company Aspiro. But he's struggled to gain traction for the service, which has just 3 million subscribers compared with Spotify's 30 million and Apple's 15 million.
The service has offered fans short-lived exclusives to boost its subscriber rolls, but customers have not been happy with the efforts. In April, a Kanye West fan filed a lawsuit against the singer, claiming West lied when he said his recently released album, "The Life of Pablo," would be available only on Tidal.