Jay Z's Tidal Sells 33 Percent Stake To Sprint
Following rumours regarding various deals, Shawn Carter’s TIDAL has officially announced a new partnership with Sprint, bringing exclusive content to the phone company’s 45 million customers.
Through this deal, Sprint acquired 33 percent of TIDAL, leaving the rest to Jay Z and artist-owners like Beyoncé, Kanye West, Alicia Keys, and Nicki Minaj. The deal cost Sprint $200 million, according to Billboard.
Sprint’s CEO, Marcelo Claure, will also join TIDAL’s Board of Directors as part of this move, which Hov is happy about.
“Sprint shares our view of revolutionising the creative industry to allow artists to connect directly with their fans and reach their fullest, shared potential,” Jay Z said in a statement. “Marcelo understood our goal right away and together we are excited to bring Sprint’s 45 million customers an unmatched entertainment experience.”
Claure was also excited about the move, complimenting S. Carter on his ability to innovate. “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,” he said. “The passion and dedication that these artist-owners bring to fans will enable Sprint to offer new and existing customers access to exclusive content and entertainment experiences in a way no other service can.”
