Jimmy Iovine, head of Apple Music, addresses the rumors swirling that Apple will engulf one of it’s streaming competitors, Jay-Z’s Tidal.
In an interview with Buzzfeed News, Iovine shot down the rumors of the tech giant company taking over Tidal:
“We’re really running our own race. We’re not looking to acquire any streaming services.”
If Hov did try to sell Tidal to Apple remains a mystery, but it wouldn’t be surprising considering the huge financial losses it took it the past 2 years. In 2015, they lost $28 million and in 2014, $10 million. But 2016 is looking way up for them after they had huge “exclusives” with albums dropping only on Tidal such as Beyonce’s, Kanye West, Rihanna, and now Usher. It’s good to have powerful friends!
