Apple in talks to buy Jay Z's music streaming app Tidal
WSJ reports that discussions are in the early stages and there is no confirmation of any deal yet
- The rapper bought Tidal for $65mn in March 2015 and has since scored various landmark partnerships
- Apple Music has flopped during its first year and executives for the company are said to be keen on a revamp
Updated : 09:51
Technology giant Apple has been in discussions over a possible sale of Jay Z's popular music streaming app Tidal, but no deal is in place yet, according to the Wall Street Journal.
Tidal offers early releases from some of the biggest music artists in the world, thanks to the rapper's reach with big stars such as Kanye West, Rihanna, Coldplay and many more since his acquisition of the app in March 2015.
Apple wants those exclusives as it attempts to bolster its own music streaming service, Apple Music. The feature has flopped during its first year due to competition from its target, and from others such as Spotify.
They have obtained some exclusive themselves, such as the release of Drake's most recent album.
The tech company apparently sees music as a huge part of future mobile technology and a major factor to maintain sales of the iPhone.
Apple Music has 15m paying subscribers, compared to Spotify's 30m as well as 100m active listeners. The move to acquire Tidal is a clear attempt from the company to compete with Spotify's numbers.