Apple to purchase Tidal for $500 Million
Apple is reportedly in talks with Tidal regarding a potential acquisition. Tech giant Apple has previously purchased Beats by Dr. Dre and transformed the business with the new Apple Music service.
In terms of customers and subscriber numbers, Apple Music is far ahead, but in second place just behind Spotify. So Apple’s intention for the acquisition could be because of the fact that Tidal provides subscribers with access to exclusive and additional content, and this has been one of the biggest unique selling points of the business. Tidal is owned by rapper Jay-Z, who has multiple friends involved in the music service offering exclusive content and promoting it.
There hasn't been any word about the money, but Gene Munster, an analyst from Piper Jaffray predicts that $500 million could seal the deal. Jay-Z purchased Tidal for $56.2 million in January 2015, so he'll definitely have a really large return on the investment. But will Apple make the move? Leave a comment below and feel free to connect with any of our social media pages so you can stay up-to-date on all the latest tech news you really want to know about!
Via: | Ubergizmo |
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Image Credit: | Ooyuz |
