Tidal’s Value Jumps From $56 Million To Over 100 In Less Than A Year, Sparks Acquisition Interest From Samsung
Samsung and Jay Z have enjoyed an incredible partnership in the past. But now Jay Z and Samsung may be working on their biggest deal yet as Samsung is reportedly interested in acquiring Tidal after the value of the streaming company has Jumped from $56 Million to over 100 in less than a year.
Tidal can thank Yeezy. Fresh off the release of Kanye West’s latest album, The Life of Pablo, the global streaming service has experienced a significant financial boost.
According to TMZ, TLOP has been streamed more than 100 million times since the album was unleashed a little less than two weeks ago. Not only is this a record for the streaming service, but it’s also more than doubled the amount of TIDAL subscribers—from 1 million to 2.5 million. This could total up to at least $15 million in additional revenue, the report says.
For that reason alone Samsung may be ready to get a piece of the action the New York Post reports:
“Samsung is re-engaging; they are working on something really big, and they’re keeping it very quiet in case it leaks,” a source told the paper.
However, Samsung has remained mum on the situation. “It is our policy to not comment on rumors or speculation,” a Samsung spokesperson said.
Meanwhile, the streaming service, which is partly owned by artists including Beyoncé, Nicki Minaj, J. Cole, and Madonna, has declined to comment publicly.
While Google and Spotify are also rumored to be interested in acquiring or partnering with TIDAL, Samsung has had a longstanding relationship with Jay Z. The company partnered with Jigga on Magna Carta Holy Grail and paid a reported $25 million to sponsor Rihanna’s ANTI campaign and tour.
One thing for sure is that they share the same nemesis in Apple as Apple charges a surcharge to IPhone users who are subscribers to Tidal. If Samsung acquire Tidal it could mean that Samsung will certainly put heat on it’s arch nemesis Apple.