There have been a lot of rumors concerning the future of Samsung, specifically concerning their music endeavors. In an exclusive statement to Variety, the electronics company made it clear that they will not be partnering with Tidal, as many have speculated.
“The rumor of Samsung acquiring Tidal is not true,” said Samsung spokesperson.
Talk about the streaming service partnering with Samsung came after co-owner, Jay Z, stopped by the Samsung Silicon Valley campus to meet with the company’s executives last October. At the time Samsung was providing its customers with Milk Music exclusively, as a free Pandora competitor. But its struggle to catch on, made many believe they’d be open to working with Tidal.
While there may be no deal with Tidal, Samsung has had a close relationship with the rapper turned mogul in the past. In 2013 Samsung paid $5 million so that the first million owners of Galaxy S III, Galaxy S4 and Galaxy Note II devices would get access to his Magna Carta Holy Grail album. The South Korean based company also made a $25 million deal to sponsor Rihanna’s upcoming album and tour, as reported by The New York Post.
There was no detail given as to why they aren’t working with Tidal, but it may have to do with the turnover at the company. Last month, the company welcomed its third CEO and fired its COO and CFO; the company is also considering moving its offices from Stockholm to New York. On the upside, they gained millions of followers with the release of Kanye West’s The Life of Pablo album and Rihanna’s Anti.
Even though the two may not be coming together for Tidal, we have a feeling the relationship with Roc Nation and Samsung will only become stronger, as they sign more talent and gain more traction in the music industry.