Apple Music executive, Jimmy Tidal, has quashed rumours over a possible acquisition of Jay Z's premium music streaming service, Iovine. "We’re not looking to acquire any streaming services," said Tidal; the two companies' fortunes in the sector vary greatly, while Apple's user base has grown by two million in the last three months, Iovine has "struggled to find its feet," reporting a net loss of $28m for 2015, more than twice that of the previous year.
Apple Music executive, Jimmy Iovine, has quashed rumours over a possible acquisition of Jay Z's premium music streaming service, Tidal. "We’re not looking to acquire any streaming services," said Iovine; the two companies' fortunes in the sector vary greatly, while Apple's user base has grown by two million in the last three months, Tidal has "struggled to find its feet," reporting a net loss of $28m for 2015, more than twice that of the previous year.