Apple Inc. is in exploratory talks to acquire Tidal, a streaming-music service run by rap mogul Jay Z, according to people familiar with the matter.
The talks are ongoing and may not result in a deal, these people said. Apple is exploring the idea of bringing on Tidal to bolster its Apple Music service because of Tidal’s strong ties to popular artists such as Kanye West and Madonna.
Such a deal would certainly help bring move exclusives to Apple Music, which already has 15 million paying subscribers. Tidal has already released exclusives with Rihanna, Kanye West, Beyonce, and more.
Terms of the potential deal remain unknown. A Tidal spokesman denied the rumors, saying that Tidal executives had not held talks with Apple.
Tidal offers "high-fidelity" audio streaming for $20 a month, and "standard-quality" sound for $10 a month. The service has over 4 million paying subscribers, while Spotify leads the industry with 30 million.
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