In what could be a relief for Jay Z, Samsung has once again reignited talks to take control of Tidal. The struggling premium service has held on-and-off talks with the South Korean electronics manufacturer for years. Samsung believes that the new talks will yield positive results that will see it take control of Tidal. According to reliable sources from the electronic manufacturer, the company is working on something revolutionary.
Rumors also have it that Samsung had earlier on written a huge check to Kanye West. The check is believed to be an award for the popstar’s involvement in the much anticipated “Life of Pablo.”
Tidal insiders recently confirmed that the company is experiencing a financial turmoil. It is currently in a $10 million deficit despite attempts by Rihanna, Kanye and Beyonce to increase the number of subscribers to the business. Tidal has been struggling to pay its royalty bills prompting Jay Z to dig into his own pocket to make the business sustainable.
Other companies including Google and Spotify have also expressed interest in Tidal. They believe that acquiring the company will help them boost their own digital music services despite its current financial situation. Spotify wants to create a new interface and technology that could integrate Tidal with Spotify.
The business leader Desiree Perez will be deeply involved in whatever steps Tidal takes to rescue itself from crumbling financially. Desiree Perez is a close associate of Jay Z for over two decades. Perez has a long track record marked by positive outcomes in running SC Enterprises, Roc Nation and Roc Nation Sports. She is known for her tough demeanor including her history of street rap, which has attracted a lot of attention. She recently negotiated Beyonce Formation and was also responsible for the Samsung deal with Rihanna.
Perez is currently in charge of Tidal, a streaming service provider that was founded by Jay Z. Tidal features several artists including Beyonce, Rihanna, Kanye West and Jay Z himself. Users are required to open accounts and subcribe to streaming services at a fee. It has a large store composed of rap music and other genres. Tidal also gives users an option to import music to their own playlists. It supports OS X, Windows, iOS and Android Systems with web player and local player options available. The company was steadily building up to become one of the best streaming services until financial problems struck. Currently, it is struggling to attract more subscribers, and Jay Z might consider his options.