Andre Yoskowitz
12 Apr 2015 23:23
Apple has unleashed their hefty checkbook in an effort to bring exclusive music to their new Beats Music streaming service.
Among the hit makers approached by Apple are Taylor Swift, Kanye West and Florence and the Machine, each of which have reportedly been offered millions to partner with the service.
Jay-Z's new rival high quality FLAC streaming service Tidal has been making similar bids, with reports circulating that it is offering up to 3 percent of the company and $3 million in exchange for exclusivity.
Gaining Taylor Swift could be a game changer as the artist recently, and very publicly, shunned Spotify and streaming services in general claiming they did not respect musician's value.
For Apple, a company that has $180 billion in cash, paying to gain marketing for a service that is dying to differentiate itself seems like a small price to pay.
Source:
Bloomberg