(AllHipHop News) Sorry Kanye West. It seems Apple Music and Tidal will not be merging.
“We’re really running our own race,” said Iovine. “We’re not looking to acquire any streaming services.”
There had been multiple reports that Apple Music and Tidal were in talks to merge the two brands. The companies are among the most publicized streaming services along with Spotify.
Both Apple Music and Tidal have attempted to gain footing in the competitive marketplace by offering subscribers exclusive content. Apple Music premiered albums by Drake, Chance The Rapper, and Frank Ocean. Tidal premiered albums by Rihanna, Kanye West, and Beyoncé.
Tidal’s parent company Aspiro AB suffered a $28 million net loss in 2015. However, the business’ revenue rose 30% during that same time frame. Jay Z, Kanye West, and several other entertainers became part owners of Tidal last year.