In a move that was unexpected, Sprint was happy to announce that it has acquired 33% of Jay Z's streaming service TIDAL. According to reliable reports, the stake was sold at a whopping $200 million.Last week Tidal announced its partnership with MQA to launch Tidal Masters, ahead of CES 2017.Click here to Read More. Needless to say, we are more than excited.
In response to the move, JAY Z commented, “Sprint shares our view of revolutionizing the creative industry to allow artists to connect directly with their fans and reach their fullest, shared potential,”. He further added “Marcelo understood our goal right away and together we are excited to bring Sprint’s 45 million customers an unmatched entertainment experience.”
Tidal claims to reach nearly 3 million users and aims further, seems like they are in the right direction. As part of the sweet deal, Tidal will now become available to Sprint's already existing 45 million customers.
Sprint CEO Marcelo Claure, will now join Tidal's board of directors. Elated to be part of the team, he was quoted as saying, "Jay saw not only a business need, but a cultural one, and put his heart and grit into building Tidal into a world-class music streaming platform that is unrivaled in quality and content."
Jay Z and his large squad of artists will continue to retainstake in the company and only wish to extract maximum value from the new association. Artist under Tidal will be granted access to the dedicated fund that has been set up by Sprint. It will thereby enable upcoming artists to freely create music and share their work with their fans.
This is definitely news to Tidal users, and we are looking forward to what both these big brands further bring to the plate.
Quite an interesting move by Tidal, what do you think? Tell us in the comments below.
Tidal has currently not launched its service in an official capacity in India. However, we absolutely love using Tidal and if you need help setting up Tidal in India, don't hesitate to get in touch with one of our headphone experts to walk you through.