Apple ‘considering takeover’ of Jay Z’s streaming service Tidal

Apple is said to be considering a takeover bid for Jay Z’s music-streaming service Tidal.

The company is reportedly exploring the idea of buying Tidal because of its strong ties to big artists like Kanye West and Madonna.

Sources have told the Wall Street Journal that “exploratory talks” are taking place and may lead to a deal being done.

A Tidal spokesman has denied that it has discussed a deal with Apple.

Jay Z launched the service in March last year as a rival to Spotify.

It followed criticism of the amount the Swedish company pays acts in royalties.

Swedish technology company Aspiro, which used to own Tidal, was bought by the rapper for $56m (£42m).

Jay Z was joined at a launch event in New York by Kanye West, Alicia Keys and wife Beyonce, who all have stakes in the company.

Jason Aldean, Jack White, Daft Punk, Beyonce, Regine Chassagne, Win Butler, and Alicia Keys

Tidal co-owners Calvin Harris and Chris Martin appeared via video link.

Meanwhile, Spotify have accused Apple of using its app store as “as a weapon to harm competitors.”

Last month Kanye West used Tidal to unveil the controversial video to his song Famous, which shows ‘naked celebrities’ including Taylor Swift and Amber Rose.

A Madonna video was also shown exclusively on Tidal for 24 hours before being released to everyone else.

Rihanna, Nicki Minaj, Madonna, Deadmau5 and Kanye West

Image caption Rihanna, Nicki Minaj, Madonna, Deadmau5 and Kanye West all attended the Tidal relaunch last March

The streaming service is also the only one offering the full back catalogue of Prince, who died in April after an accidental overdose.

The site’s flagship £19.99 monthly subscription fee, which includes HD audio and HD music videos, is double the price of the highest Spotify monthly subscription.

Tidal also offers a £9.99 monthly deal.

An individual membership for Apple Music is £9.99 a month while a family package costs £14.99. Students pay £4.99.

Find us on Instagram at BBCNewsbeat and follow us on Snapchat, search for bbc_newsbeat

Leave a Reply

Your email address will not be published. Required fields are marked *