“We’re really running our own race.”
Apple Music head Jimmy Iovine has squashed rumours that the company plans to acquire Tidal.
“We’re really running our own race,” Iovine told Buzzfeed News earlier this morning (September 15), when asked about the reports, before adding: “We’re not looking to acquire any streaming services.”
Rumours about a potential acquisition began circulating back in June when a source “familiar with the matter” told the Wall Street Journal that Apple was “in ongoing talks” with Tidal.
Artist-owned streaming service Tidal has struggled to compete in this race despite the star-power of exclusives from Kanye West, Desiigner, Beyonce and more, and suffered a $28 million loss in 2015.