Samsung mulls buying out Tidal: report

PanARMENIAN.Net - Jay-Z's streaming service Tidal could be bought out by Samsung, NME reveals citing reports.

Tidal was launched on March 30 2015, offering a "better service and experience for the user and the artist". Jay Z, Madonna, Kanye West, Beyoncé, Rihanna and more were all present at the launch in New York.

Rumours about Samsung buying out the service have circulated since late last year, but, as The New York Post reports, a source claims talks have been instigated once again.

Jay Z bought the company for £40.4m ($56m), but Tidal is reported to have had difficulty in paying royalty bills on time.

The source said: "Samsung is re-engaging; they are working on something really big, and they're keeping it very quiet in case it leaks."

They also claim that Google and Spotify have been considering working with Tidal. Spotify currently have over 20 million paid subscribers, compared to Tidal, who have gained over one million since Jay Z's takeover.

Tidal has drawn some big name exclusives in recent months, including Rihanna's 'Anti' and Kanye West's 'The Life Of Pablo'.