Though rumors have been swirling about a potential sale (and Jay Z and Samsung already have something of a relationship), Samsung is going on record to say they have no plans to purchase the music streaming platform Tidal.
“The rumor of Samsung acquiring Tidal is not true,” a Samsung spokesperson told Variety.
We can’t say we blame them. In spite of a sea of huge gets and exclusive events like Yeezy Season 3, Tidal can’t seem to put a dent in the entrenched listening habits of the world. The struggling company has gone through three CEOs in the year since Jay Z purchased it for $56 million.
It’s also facing a hefty lawsuit for underpaying artists or streaming their music without permission. This is a huge PR black-eye for any streaming service, but especially one that was looking to distance itself as the pro-artist streaming service. Via the court documents:
“Defendants created its now 25 million track library by dumping all of the music from independent artists into the Tidal Music Service without serving NOIs. Independent artists are predominantly impacted by Defendants’ systematic infringement…Defendants deliberately miscalculating the per-stream royalty rates by including millions of streams Defendants do not pay royalties in the calculation. This diluted the paid per-stream rate for royalty payments by up to 35 percent.”
Tidal, for their part, maintains that they paid every cent owed to the plaintiff. Still, it looks as though the company is facing rough times when a phone company that’s desperate for a streaming service won’t look their way.