Apple is in talks to acquire rapper Jay Z’s streaming music service Tidal, reports The Wall Street Journal, citing “people familiar with the matter.” The talks are said to be exploratory and “may not result in a deal,” but Apple is considering the purchase to bolster its Apple Music service.
Tidal, which launched in 2014 and was acquired by Jay Z in January of 2015 before a March 2015 re-launch, is a subscription-based music service that advertises high-quality lossless audio and high-definition music videos. Tidal offers two tiers of service, a standard premium option for $9.99 per month and HiFi for $19.99 per month. Tidal has 4.2 million paying subscribers, and as of March, 45 percent of those subscribers paid extra for the hi-fidelity tier.
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