Welp, that settles that.
A few months ago it was rumored that Apple Music had engaged in talks to purchase JAY Z’s music streaming service, TIDAL. This came as a surprise to some, as the Wall Street Journal reported that TIDAL — despite its slow yet steady increase in subscriptions — reported a $28 million USD loss in 2015.
Well, now Jimmy Iovine has shut down those rumors rather succinctly.
Speaking to Buzzfeed, the co-founder of Interscope Records and the current head of Apple Music dismissed everything, stating “We’re not looking to acquire any streaming services. We’re really running our own race.”
Apple Music currently has roughly 17 million paid subscribers, trailing only Spotify who has approximately 30 million paid subscribers. TIDAL currently stand at 4.2 million subscriptions.