Apple looks to bolster its music streaming capability through an acquisition, the Wall Street Journal reports-- specifically Tidal, the Jay Z-owned service.
The reasons behind the interest in Tidal? One is a strong music catalog including the likes of Madonna, Rihanna, Beyoncé, Kanye West and the late, great Prince, the result of close relationships with recording artists. And while Tidal has around 3 million subscribers (Apple Music subscriptions total 15 million), customers can pay up to $19.00 for high-resolution streaming, providing easy means to add a more premium offering to Music.
The WSJ also notes Tidal has been looking for a buyer or partner since last year, naming streaming service Rhapsody as one possible party. According to Recode Samsung was also interested in buying Tidal before walking away from a deal, while Spotify cannot afford the asking price.
Mind, an Apple-Tidal deal might hit a few bumps-- while Apple would like to boost both its reputation as an artist-friendly company and exclusive album library, the big names making the Tidal stable might not be too happy working with Apple. Still, the deal would make a lot sense for Apple, and we would safely bet on its happening.
