On Tuesday we reported that "Tidal Streaming Music Fired Norwegian CFO and COO." Now a second tidal wave may be in the works to really shake up the industry. Variety is reporting exclusively that "Samsung is getting close to making a major announcement in the music space. This could include the acquisition of a streaming service, or a partnership with a major streaming provider. As a result, Samsung is likely going to shutter its existing Milk Music streaming service.
It's still unclear what exactly is going to replace Milk Music. Yet with that said, Variety shifts to speculating that Samsung may be working on some kind of deal with the Tidal music streaming service.
The report notes that "Samsung had been in talks with Tidal about a potential acquisition, and Tidal owner Jay Z even stopped by Samsung's campus to meet with the company's executives last October. The New York Post reported last month that the two parties have picked up talks again, which could be because Tidal has seen a surge of new users, thanks to high-profile exclusives." Though in reality, it's likely that Tidal is experiencing a business meltdown and not a surge as witnessed by this week's 'firing' of the company's CFO and COO.
In the end, Variety's 'exclusive' is weak at best as "multiple music industry insiders cautioned that an acquisition may be far from certain in part because Tidal may be asking for more than Samsung is willing to pay. Many see a partnership with Tidal or another streaming service as a likelier option."
Yet if Tidal is to ever take on Apple Music head on, then they have to have a closer tie-in to a major smartphone line and Samsung fits the bill. The saying of 'The enemy of my enemy is my friend' seems to fit the bill.
That works with Samsung as well. Samsung tried to challenge Apple's iTunes with their 2014 Milk Music venture that ended up being an utter disaster. Now with streaming music taking off, Samsung is lost and needs to quickly catch up with Apple Music on the iPhone. Will this deal get made between both desperate parties? Only time will tell.