In 2014, Apple bought Beats, the headphones and music service owned by Dr. Dre and music mogul Jimmy Iovine. Now, the company is in talks to buy Jay Z's music streaming service, Tidal, The Wall Street Journal reports, citing "people familiar with the matter." The deal would unite "East Coast and West Coast rap under a single business interest," The Journal notes, but it would also expand Apple's growing Apple Music empire and potentially give the consumer electronics giant access to Tidal's roster of top artists. A Tidal spokesman said no company executives have met with Apple.
Tidal, which doesn't offer a free service, says it has 4.2 million paying subscribers, while Apple Music reports 15 million paying subscribers. Spotify, in contrast, has some 30 million paying and 70 million free users. Tidal's subscription numbers have grown in the past year due to exclusive online access to music by musicians like Beyoncé, Kanye West, Rihanna, and Prince. "I would be surprised if this doesn't happen," music industry analyst Bob Lefsetz tells USA Today. Apple is "at war with Spotify," and Tidal has "very limited options," he added. "Jay Z bought it to sell it and who's going to buy it? Amazon is the only other option and it's going in a different direction."
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
Sail in style onboard the brand-new Explora IIThe Week Recommends Hit the high seas on a luxury cruise from Barcelona to Rome
-
Is the EU funding Russia more than Ukraine?The Explainer EU remains largest importer of Russian fossil fuels despite sanctions aimed at crippling Kremlin's war effort
-
Posh crisps: an 'elite' tier of snackingThe Week Recommends Hand-cooked and dusted in 'decadent' flavours, the humble potato chip is being elevated to new levels
-
Crypto firm Coinbase hacked, faces SEC scrutinySpeed Read The Securities and Exchange Commission has also been investigating whether Coinbase misstated its user numbers in past disclosures
-
Starbucks baristas strike over dress codespeed read The new uniform 'puts the burden on baristas' to buy new clothes, said a Starbucks Workers United union delegate
-
Warren Buffet announces surprise retirementspeed read At the annual meeting of Berkshire Hathaway, the billionaire investor named Vice Chairman Greg Abel his replacement
-
Trump calls Amazon's Bezos over tariff displaySpeed Read The president was not happy with reports that Amazon would list the added cost from tariffs alongside product prices
-
Markets notch worst quarter in years as new tariffs loomSpeed Read The S&P 500 is on track for its worst month since 2022 as investors brace for Trump's tariffs
-
Tesla Cybertrucks recalled over dislodging panelsSpeed Read Almost every Cybertruck in the US has been recalled over a stainless steel panel that could fall off
-
Crafting emporium Joann is going out of businessSpeed Read The 82-year-old fabric and crafts store will be closing all 800 of its stores
-
Trump's China tariffs start after Canada, Mexico pausesSpeed Read The president paused his tariffs on America's closest neighbors after speaking to their leaders, but his import tax on Chinese goods has taken effect
