Samsung is in talks to acquire the Jay Z-owned media streaming service TIDAL, the New York Post reports.
“Samsung is re-engaging,” a source told the New York Post. “They are working on something really big, and they’re keeping it very quiet in case it leaks.”
Jay Z acquired the streaming service for $56 million in January 2015. Two months later, he established the TIDAL Mafia by bringing on such A-listers as Kanye West, Beyoncé, Rihanna, Daft Punk, Jack White, Nicki Minaj, Madonna, Rihanna, Usher, Alicia Keys, & J. Cole to become partners.
Samsung has expressed interest in acquiring TIDAL before, and they inked a $20 million deal with Jay Z in 2013 and a $25 million deal with Rihanna in October 2015. TIDAL hit the million subscriber mark in September and has gained 1.5 million subscribers since the release of The Life of Pablo.
Acquiring TIDAL may be Samsung’s best bet to enter the music streaming game. Spotify, which has 25 million subscribers, and Google have both been eyeing TIDAL as a potential acquisition. Apple, Samsung’s chief rival in the phone and consumer electronics game, has already established itself with iTunes and Apple Music. Don’t be surprised to see Jay Z get an excellent return on his $56 million investment if he can come to an agreement with Samsung.
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