The report went on to suggest that Samsung wanted to use Tidal to replace the tech giant’s soon-to-be-shuttered Milk Music.
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Streaming music has been big business these past couple of years with all of the competition and various available services. This is following reports that Jay-Z reportedly met with Samsung’s Milk Music chief at Samsung headquarters back in October, and a much more recent rumor from today that Samsung would be shutting down Milk Music in light of moving forward with the purchase of the Tidal streaming music service.
Tidal comes with a built-in userbase that undoubtedly beats Milk Music’s, but it’s not clear what Samsung’s plans for it may be.
However, it seems Samsung has cleared the air on the issue, issuing a statement to both Variety and other outlets that the rumor of a Tidal acquisition isn’t true.
Samsung has restarted talks to purchase Jay Z’s TIDAL, according to the New York Post. “A lot of people in the organization have left or are shifting positions”, said one source.
There could be several reasons why Milk Music failed to gain valid market traction, most significant of which could be the high competitive environment. This service is also linked with iTunes and its large music libraries that contain custom user-built playlists.
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While the competitive is strong in the form of services ranging from Apple Music and Prime Music to YouTube, Pandora, and Spotify, it is debatable if Samsung will exit the high growth streaming industry completely.
