Samsung has its eyes on acquiring a part of Tidal, the music streaming company bought in 2015 by music mogul Jay Z and partners.
Although its current value is estimated at $100 million, and is worth nearly double the $56 million purchase price, Tidal is said to be experiencing “pressure.” According to thenet.org, a financial partnership with a company of Samsung’s magnitude would help it a lot.
Talks had previously stalled but, Samsung has “reengaged,” the negotiations. However, neither Tidal or Samsung would confirm the validity of the negotiations. Samsung would only say it is their policy “not to comment on rumors or speculation.” Part owners of Tidal include, music artists, Beyonce, Nicki Minaj, J. Cole and Madonna. All have declined to publicly comment about a possible hook up with Samsung.
Apparently, Samsung is not the only corporation interested in the Tidal acquisition. Supposedly, Google and Spotify are also courting Tidal in hopes of teaming together. However, Samsung may be a top contender due to its long standing relationship with Jay Z.
Samsung reportedly sponsored Rihanna’s ANTI campaign and tour for $25 million. It also previously partnered with Jigga on Magna Carta Holy Grail. That sponsorship was $20 million, and the Korean tech company also paid $5 million to give away copies of the Magna Carta Holy Grail album, to one million subscribers of a certain series of Samsung phones, a full three days before it officially went on sale.
Although it may be seeking a financial partner to help it along, the streaming service has garnered huge success from Rihanna’s ANTI. Tidal’s subscriptions also doubled with the release of Kanye West’s “The Life of Pablo.”
Jay Z’s company acquired Tidal from Aspiro for last year.