According to a report by the Wall Street Journal, Apple is in early discussions to purchase Tidal, the music streaming service launched by rap mogul Jay Z in 2015.

The publication referred to the talks as "ongoing," based on claims from unnamed "people [who are] familiar with the matter," though the meetings ultimately may not lead to an acquisition. The revelation corroborates whispers that Tidal has been shopping for a potential buyer for months, including meeting previously with Napster — the streaming service formerly known as Rhapsody.

If sold to Apple, the purchase would close yet another gap in the increasingly competitive market of music media streaming services, of which Spotify remains the largest platform with over 30 million subscribers. Apple Music, which launched in 2015, has 15 million members and Tidal claims 3 million, according to the company's CEO Jeff Toig.

Other music-based streaming services include web sites like SoundCloud and Pandora.

Tidal's appeal is, of course, largely based on the service's ability to secure high profile exclusives from artists like Beyonce, Rihanna, Kanye West and Madonna, who all publicly supported the launch of Tidal in March of last year.

In April, Beyonce famously launched her new album, Lemonade, as a limited-time Tidal exclusive following the premiere of its visual component on HBO.

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