/cdn.vox-cdn.com/uploads/chorus_image/image/68910503/jay_z_spotify.0.jpeg "jay z sells tidal")
Jack Dorsey had publicly teased that some sort of transaction with Jay-Z was coming via several social media posts. The pair was spotted lounging on a yacht in the Hamptons with Jay-Z’s superstar wife, Beyoncé, in August before news leaked in December that they were discussing a Square-Tidal tie-up. The March announcement came after Dorsey and Jay-Z, born Shawn Carter, dropped several hints that they were working on something. When Square announced the deal in March, it said it expected to pay $297 million in a mix of cash and stock for an undisclosed majority ownership stake in Tidal, which Jay-Z and a group of other artists acquired for $56 million in 2015. With the success of streaming platforms like Spotify, Tidal had struggled with Jay-Z at the helm. “Given what Square has been able to do for sellers of all sizes and individuals through Cash App, we believe we can now work for artists to see the same success for them, and us,” he said.
#Jay z sells tidal series
Dorsey defended the deal in a series of tweets back in March, saying he plans to help Tidal musicians grow their businesses and fanbases by building collaboration tools, making it easier to sell merchandise and creating “entirely new listening experiences.” The service has been dragged down by weak subscriber numbers - thought to be between 1 and 5 million, paltry compared to Spotify’s 356 million monthly active users - and high turnover in its executive suite.īut the deal also raises questions about why Square, a financial products company, is acquiring a music streaming startup. The deal gives Jay-Z an exit for Tidal, which has struggled amid a field of larger streaming rivals like Spotify. Square will also get licensing deals with the major record labels on the platform, TMZ reported, and Desiree Perez, CEO of Jay-Z’s entertainment empire Roc Nation, will continue to help run Tidal. The person added that Square executive Jesse Dorogusker will serve as interim head of Tidal while Square searches for a permanent lead. Dorogusker did not immediately return the Post’s request for comment. Square is paying $350 million for 80 percent of Tidal in the deal, which closed on Friday, TMZ reported. But a person familiar with the matter said Square closed the deal for just $302 million, though they declined to share what percent of the company Square acquired. Jay-Z’s deal to sell his music-streaming service Tidal to Jack Dorsey’s financial services company Square has closed, reportedly valuing Tidal at more than $435 million.
#Jay z sells tidal crack
Rihanna, Peter Jackson crack Forbes billionaires list for first time
#Jay z sells tidal how to
Midheaven in astrology: What it is and how to find it Nature trust beats out Jay-Z and Beyoncé in $8.5M Hamptons land buy I look forward to all this new chapter has to offer!- Mr.Jesse Williams’ birth chart is all heart and a mix of Leo and Libra This partnership will be a game-changer for many. Artists deserve better tools to assist them in their creative journey.- Mr. 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. Jay-Z took to Twitter to discuss the selling to Square: Today, a press release confirms that “Square expects to pay a mix of cash and stock of $297 million for a significant majority ownership stake.” TIDAL will operate independently within Square, according to the press release. Last December, Bloomberg reported on the possibility that Square would buy TIDAL. Cole, Coldplay’s Chris Martin, Arcade Fire’s Win Butler and Régine Chassagne, Rihanna, Jack White, Daft Punk, and many more. Jay-Z brought aboard artist owners including Beyoncé, Kanye West, Nicki Minaj, Madonna, Lil’ Wayne, J. In 2015, TIDAL was purchased from the Norwegian company Aspiro for $56M. Jay-Z announced a few deals this past week including the Armand de Brignac merger with LVMH. The Twitter CEO Jack Dorsey has inked a $297 million deal to take control of TIDAL.
0 kommentar(er)
