Apple is in preliminary talks to buy Tidal, the streaming music service largely owned by musician Jay Z, the Wall Street Journal reported, citing unidentified people familiar with the discussions.
The newspaper said the talks may not result in a deal.
Representatives of Apple and Tidal declined to comment on the report.
Acquiring the smaller competitor might give Apple access to exclusive streaming content from a host of high-profile artists ranging from Beyonce to Rihanna, and help attract subscribers to bolster its music service.
The company earlier this month revamped Apple Music, which was introduced a year ago to lukewarm critical reception. Tidal trumped Apple earlier this year in securing the rights to be the first to stream Kanye West’s latest album, The Life of Pablo.
Tidal has endured a troubled year since Jay Z bought its parent company for US$56m in March 2015. In a letter sent three months ago, the entrepreneur accused Tidal’s Norwegian seller, Schibsted, of overstating subscriber numbers.
Tidal said in March it had more than 3m paying subscribers, less than Apple’s 15m and Spotify’s 30m.
Tidal has replaced its top management several times since the acquisition, and an attempt to sell the service to Samsung Electronics collapsed, Variety reported in March. — (c) 2016 Bloomberg LP
- Written with assistance from Lucas Shaw