Samsung has come forward and told Variety that it has no plans to purchase Jay Z’s Tidal music streaming service, despite rumors suggesting otherwise.
Previously, we reported on news that Samsung and Google had expressed an interest in picking up the music group, according to sources familiar with the matter speaking to the New York Post.
Imaginations were running wild late last year when Jay Z was spotted exploring Samsung’s campus to chat with company executives.
Those whispers have now been laid to rest, however, as an exclusive report from Variety sees a Samsung spokesperson dismissing the claim, saying: “The rumor of Samsung acquiring Tidal is not true”.
Jay Z purchased Tidal around a year ago from Aspiro; however, the New York Post has reported on financial struggles for the group that are ‘only getting worse’. Just recently, Jay Z and Tidal were in the spotlight for all the wrong reasons through a large class action lawsuit.
Whilst it’s fair to say that Tidal has been through its rough patches due to issues with management and other problems behind the scenes, the service has been boosted on several occasions thanks to a number of exclusive album releases.
Variety reports that around one million users signed up for a free Tidal trial after Rihanna’s “Anti” album was uploaded days before it was released anywhere else. Kanye West’s “The Life of Pablo” record was also a big-hitter for Tidal.
Even though Tidal is currently valued at an estimated $100 million, it looks like Samsung is staying away for now.