January 26, 2017
Staff and Wire Report
Hip Hop mogul Jay Z recently announced that he is forming a partnership with Sprint, which purchased a 33 percent stake in his Tidal music streaming company.
The deal is reportedly worth around $200 million according to Billboard, and will allow Sprint's 45 million customers to access to Tidal's services, along with exclusive content that will only be available to new and existing Sprint users.
The service is available in more than 52 countries, with a song catalog of more than 42.5 million and 140,000 videos, officials from Tidal said.
“Sprint shares our view of revolutionizing the creative industry to allow artists to connect directly with their fans and reach their fullest, shared potential,” Jay Z commented 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.”
Marcelo Claure, Sprint's chief executive officer, will also join Sprint's board of directors. Meanwhile, Jay Z and the other two dozen artists who hold ownership in Tidal will continue to focus on the relationship between the music industry and its fans.
“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,” Claure stated. “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.”
Tidal, which does not have a free option for its services, provides a basic subscription at $9.99, and a premium audio quality option for $19.99, but now, all Sprint customers will also have access to Tidal, giving the servce substantial access to new users. Meanwhile, Sprint's unlimited data option will also allow its customers to stream music, videos, and performances on Tidal from wherever they please, and without any extra cost.