Rumors from Wall Street Journal last week suggested that Apple is in talks to purchase Jay Z's Tidal. The music streamer currently possesses exclusive deals with some of the hottest artists, including songs by Beyonce, Kanye West, Rihanna and yes, even Taylor Swift. For Apple, the Tida acquisition means more artists on the Apple Music roster.
According to a recent report, via Barrons, from Piper Jaffray analyst Gene Munster, Tidal could cost Apple as much as $500 million. Given that Jay Z had only purchased Tidal for $56 million in 2015, this deal spells a massive profit for one of hip hop's hardest working hustlers.
Tidal not only stands to add another 4.2 million subscribers on top of Apple Music's own 15 million, but also boost Apple's access to exclusive music in hip hop. However, Apple Music will still significantly trail its rival streamer Spotify, which currently boasts 30 million paid subscribers.
While $500 million will seem a lot of money for just 4.2 million subscribers, keep in mind that Apple invested a whopping $3 billion to acquire Beats by Dre in 2014.
Apple Music currently offers a free trail to new subscribers lasting three months. Individual plans begin at $9.99 a month, while a shared family account will cost $14.99 a month. Students are eligible for a discount to $4.99 a month.
Do you think it's a good idea for Apple to buy Tidal? Let us know in the comments below!
