Apple in talks to buy Jay Z’s Tidal music streaming service?

Reports suggest that the tech giant is in 'exploratory talks' over the possibility

Reports have suggested that tech giant Apple could be ready to purchase Tidal, the music streaming service owned by Jay-Z and a rival of the company’s Apple Music platform.

Rapper-turned-businessman Jay Z purchased the streaming service from Swedish company Aspiro for $56.2 million (£42.3m) in January 2015. The new-look Tidal was unveiled with a now-infamous launch event involving an all-star cast of ‘artist-owners’ including Kanye West, Beyoncé, Madonna and Daft Punk.

Since its relaunch, Tidal has boasted a series of exclusive releases from its affiliated artists, including premiere streams of West’s ‘The Life Of Pablo’ album, Beyoncé’s ‘Lemonade’ and the back-catalogue of the late Prince. In May, Tidal claimed that subscriber numbers rose by 1.2 million in the first week following the release of Beyoncé’s ‘Lemonade’.

NMEPress

The Wall Street Journal now reports that Apple is currently in “exploratory talks” to acquire Tidal, although “terms of the potential deal aren’t yet known”. A Tidal spokesperson also told the publication that “Tidal executives had not yet held talks with Apple”.

Meanwhile, Spotify has claimed this week that Apple is blocking a new version of its app to squash competition.