Rap mogul Jay-Z owns music streaming service Tidal, which hasn’t been performing as well as competing services, so could Jay-Z be looking to offload the service to a company with deeper pockets that can take Tidal into another direction? Well, that’s the buzz these days, as earlier this week Jay-Z visited Samsung HQ in Silicon Valley which have led to rumors that the company might have some interest in buying Tidal.
Variety reports that Jay-Z was seen leaving the office of Samsung Research America where the Samsung MSCA unit is also located, this unit creates Samsung’s content strategy for services like Milk Music. The scribe also reports that one of Jay-Z’s meetings there was with Daren Tsui, Samsung’s SVP of content and services, said to be “the driving force behind Milk Music.” A deal with Samsung could put Tidal on the map, the Korean manufacturer can provide Tidal with a huge distribution base by pre-loading the app on its smartphones. Jay-Z’s name recognition could be beneficial for Samsung, they could strike deals for product promotion and with Tidal in the fold, also provide an improved on-demand music experience better than what Milk Music currently offers. It’s too soon to say though if a deal will materialize, both Samsung and Tidal have not commented on the matter, so we’ll have to wait and see how this plays out.