UPDATE: A Samsung spokesperson told Variety that they won’t acquire Tidal.
According to new reports, Samsung is in talks to acquire Tidal. For Jay Z and company, this is a great thing. Project Panther Bidco, a subsidiary of his S. Carter Enterprises, originally purchased Aspiro (the Swedish parent company of two subscription streaming services, WiMP and TIDAL) for $56.2 Million.
Today, Tidal now has Alicia Keys, Win Butler & Régine Chassagne, Beyoncé, Calvin Harris, Chris Martin, Daft Punk, Jack White, Jason Aldean, J. Cole, Kanye West, Deadmau5, Madonna, Nicki Minaj, Rihanna, Usher, Lil Wayne and T.I. as minority owners. This many recording artists holding a minority stake in a streaming company is pretty dope and that’s one of the reasons why I hope that Samsung doesn’t acquire 100% of Tidal.
Another reason why I hope Samsung doesn’t acquire 100% of Tidal is Jay Z’s connection to the platform. How many black tech owners are out there thriving? I support that and if Samsung acquires it fully, we lose that. The last reason, it’s way too soon for Tidal to be purchased, in my opinion. I’d love to see Tidal with 10+ subscribers before they selling the company. It would make a major statement.
Whatever happens, I wish Tidal the best. If you haven’t tried the service, you should.