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