According to several sources, Samsung is once again in talks with Jay Z about possibly buying the over hyped and currently struggling streaming service Tidal. While no one really knows why Samsung wants to buy Tidal, word is they have something really big in the works and Tidal could be an integral part of it.
I.B. Bad, a HITS industry insider, believes Tidal may be losing over $10 million per year. This is in large part due to several exclusives that weren’t as successful as executives hoped they’d be.
What Is The Future Of Tidal?
Right now the future of Tidal is up in the air. And while no one knows what will happen next, what we do know is Desiree Perez, one of the toughest negotiators in the game, will be deeply involved.
At this point it looks like Samsung may have a little competition on their hands as both Google and Spotify have shown interest in the service. Both companies believe Tidal could give their streaming services a boost.
Spotify is more interested in a partnership and not so much an acquisition. They basically want Tidal to use their infrastructure to power the service.
One source was quoted as saying, “The pressure is definitely on.” They also made mention of the fact Tidal is struggling to pay royalties on time. As a result Jay Z has been forced to use his own money to keep the company afloat.
When Tidal first launched in 2015, the company was said to be worth $250 million. Now, less than 2 years later, the company is believed to be worth $100 million.
Neither Samsung nor Tidal have released a statement about this story.
If asked to describe Desiree Perez in one word, it would simply be BOSS. She has been working with Jay Z for over 20 years and is considered one of his most trusted associates.
She has a hand in SC Enterprises, Roc Nation Sports, and now Jay Z’s latest project, Tidal. When it comes to crunching numbers and negotiating Desiree Perez is in a league of her own.
She has helped broker very lucrative deals for both Rihanna and Beyonce.
Now that Perez is working behind the scenes with Tidal, you can expect a lot of great deals to come down the pipeline.