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Although Prince was not one of the 16 acts who were identified as the “owners” of Tidal at its introduction in March, he has used it to showcase exclusive content such as the live stream of his Baltimore concert in May.

Although these discussions are apparently still in the early stages, it is thought that Facebook is looking to create something to rival Spotify, Apple Music, Pandora, Xbox Music and the like. Now, Apple wants to enhance the music craze to another level with the introduction of...