Last week, he had already announced a partnership with LVMH for his champagne brand Armand de Brignac. , with Beyoncé, the rapper has found other occupations. If he has not released an album for three years and “I said from the start that Tidal isn't all about streaming music, and six years later it has remained a platform that supports artists at every stage of their careers.Īrtists deserve better tools to help them in their creative journey, ”said Jay-Z, also on his partner's social network. Tidal, with its 70 million tracks and 250,000 music videos (at the last census, in 2020), promised better remuneration and better audio and video quality content than its competitors (which, besides Spotify, include Deezer or Apple Music). Tidal, which Jay-Z helped launch in 2015 as part of a 56 million deal with other top music artists including Alicia Keys, Beyonce, Chris Martin of Coldplay, Usher, Nicki Minaj, Rihanna, Kanye. Many musicians no longer hesitate to point the finger at the low royalties paid to them by Spotify. Tidal is obviously still far from the leader in music streaming Spotify, but the service has found a specific angle to enter this ultra-competitive market: it places itself in the camp of artists. "Tidal has remained a platform that supports artists at every stage of their career" New ideas are at the crossroads, and we think there is a compelling link between music and the economy, ”Jack Dorsey posted on Twitter.
It boils down to a simple idea: finding new ways for artists to support their work. Last summer, Jay-Z and Beyonc were spotted on a yacht in the Hamptons with Jack Dorsey, the CEO of Twitter. “Why would a music streaming company and a financial services company team up? Jay-Z Sells Majority Stake In Tidal To Jack Dorsey’s Company Square, Joins The Board. , also means Jay-Z is joining Square's board.Ī good deal for Beyoncé's husband, since he had bought Tidal (created by the Norwegian company Aspiro) in 2015 for $ 56 million with the co-founders of the service, including the star's own wife, but also Rihanna or even Madonna. The rapper has indeed sold part of his shares, which allows the businessman to be the majority shareholder. Square is acquiring a majority ownership stake in TIDAL through a new joint venture, with the original artists becoming the second largest group of shareholders, and JAY-Z joining the Square board.The streaming service, relaunched by Jay-Z, will now be controlled by Square, one of the companies of Jack Dorsey, the creator of Twitter. This shared vision makes me even more excited to join the Square board. Jack is one of the greatest minds of our times, and our many discussions about TIDAL’s endless possibilities have made me even more inspired about its future. Artists deserve better tools to assist them in their creative journey. I said from the beginning that TIDAL was about more than just streaming music, and six years later, it has remained a platform that supports artists at every point in their careers. I look forward to all this new chapter has to offer!” This partnership will be a game-changer for many.
Jack and I have had many discussions about TIDAL’s endless possibilities that have made me even more inspired about its future. “Artists deserve better tools to assist them in their creative journey. “I said from the beginning that TIDAL was about more than just streaming music, and six years later, it has remained a platform that supports artists at every point in their careers,” Both parties confirmed the acquisition in a statement via their respective Twitter handles on Thursday.
(CCM) Apple is planning to give its Apple Music service a major boost by buying Tidal, a rival music-streaming service run by rapper and entrepreneur Jay Z, according to The Wall Street Journal. JAY-Z will also move into Square’s Board of Directors. Square, digital payment firm run by Jack Dorsey, CEO of Twitter, has acquired Tidal, the audio and video music steaming platform owned by Jay-Z, in a deal worth 297 million. Apple Music could benefit from exclusive streaming deals if reported talks lead to a deal for Apple to buy Tidal.