Back in October, Variety reported that Jay-Z had been spotted at Samsung offices in Silicon Valley and many thought that it foreshadowed a future deal between the two conglomerates. More specifically, rumors of Jay seeking a new home for Tidal began to manifest, however, it may not just be a rumor anymore!
An in-the-know source told the NY Post, “Samsung is re-engaging; they are working on something really big, and they’re keeping it very quiet in case it leaks.” Well, the phone company has already shelled out $28 million to sponsor Rihanna’s Anti projects, so what other big thing could be in the works? Also, why is Jay-Z allegedly trying to sell Tidal to Samsung?
The NY Post:
Tidal has succeeded in attracting upwards of 1 million subscribers but has faced several stumbles in its short life. The firm in December hired its third boss, naming former Soundcloud executive Jeff Toig as chief executive.
Also, Tidal accidentally released Rihanna’s album “Anti” early while Kanye West’s latest album, “The Life of Pablo,” suffered from huge piracy issues after it was released widely even to non-subscribers of Tidal.
The piracy cost West at least $10 million in lost sales in the first days of its release, The Post reported.
Once you factor in that Tidal is barely even a year and a half old, you’ll realize that these issues are growing pains that any company endures. It just seems like a much bigger, more scandalous issue since there are celebrities involved. Regardless, Jay-Z and the rest of the Tidal family will figure out what to do with this streaming service.
Just #WatchTheThrone!
TSR STAFF: Talia O. @theclosetratchet on Instagram & @tallyohhh on Twitter!
Source: http://nypost.com/2016/02/25/samsung-restarting-tidal-acquisition-talks/
