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Jay Z Could be Richer than Dr. Dre After Apple’s Interest in Tidal

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Jay Z is in the process of making major moves. Part of the elite crew of Hip Hop legends who reap from their rhymes and minting money from their business deals, Jay Z is about to get even richer.  The music mogul is soon to become a bigger deal as he enters talks with Apple for the sale of the streaming service Tidal. According to Wall Street Journal reports Apple is interested in using the company to beef-up its own year-old steaming service Apple Music.

Tidal, the streaming service he acquired in March  2015 from European-based Aspiro for an estimated $56 million now has 4.5 million subscribers. Artists such as Beyonce, Kanye West and Rihanna debuting their albums and exclusive music on the service has contributed to the rapid growth of the service. As talks continue, Jay Z stands to make big profits as interest from techno company Apple adds claim to the importance of the service. The artists who are already part of Tidal could also enjoy a major payout should the deal go through. The company that once suffered lots of backlash after conversations on Twitter cited Tidal as unnecessary, coming into competition with established service Spotify.

Nonetheless, the Tidal has been working to capture some percentage of the fast-growing streaming market from Spotify, which focuses on easy access rather than exclusive content. Jay Z’s streaming service benefited greatly from the release of exclusive content by major artists like Beyonce with her “Lemonade” visual album and Hip Hop genius Kanye West on the release of “The Life of Pablo.” The service even had an exclusive catalogue of Prince’s music being the only streaming service to do so.

It’s another day another hassle, but for Jay Z it’s another day another payday.

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Ivy Mang'eli
Ivy Mang'eli is a graduate of Daystar University. She is passionate about youth affairs and social development