Lesson learned: never doubt Hov. It’s being reported that Sprint has acquired a 33% stake in JAY Z‘s music streaming service, TIDAL; this is expected to give the communications giant (and it’s users) VIP access to TIDAL’s exclusive content. In addition, a source also claimed that Sprint paid a whopping $200 million for their piece of the company, along with $75 million to be set aside annually for “artist marketing”. In the words of Future, sensational.
Said JAY Z in a statement revealed earlier today:
Sprint shares our view of revolutionizing the creative industry to allow artists to connect directly with their fans and reach their fullest, shared potential… [Sprint CEO Marcelo Claure] understood our goal right away and together we are excited to bring Sprint’s 45 million customers an unmatched entertainment experience.
Adding to that, Claure — who will also take a seat on TIDAL’s Board of Directors — spoke highly of JAY and the rest of TIDAL’s artist-owners, who built “TIDAL into a world-class music streaming platform that is unrivaled in quality and content.”
The news comes after a roller coaster of obstacles that TIDAL has faced since JAY Z & Co. relaunched the service in 2015, which includes a rather awkward opening ceremony, constantly revolving executives and lawsuits. TIDAL has also faced seemingly insurmountable competition from current stream king Spotify and the rapidly-expanding Apple Music, along with field entries from countless others (ex. Amazon, YouTube). Now, it appears that TIDAL has an additional machine that can help push it further upward.
Read the full statement in its entirety here.
Suggested Articles:
Kanye West Thinks That Apple Needs To Pay Jay Z and Buy Tidal
Today is ‘Prince Day’ Declares Minnesota Governor+Tidal has 15 Prince Albums on Stream
You might also like
More from News
A Great Night In Hip-Hop. Paying Tribute to Hip-Hop’s Most Iconic Photo at Fotografiska NY
Please join XXL veteran journalists and contributors on May 9, 2023 — Sheena Lester, Datwon Thomas, Bonsu Thompson, Larry Hester, …
SLAUGHTERHOUSE Exclusive! Throwback to The Movement!
RESPECT. Exclusive! Assassination Day! Shady Records’ Slaughterhouse Counts down to The Release of Welcome to Our House. [Straight From The Crate...Originally Captured for RESPECT. …
BREAKING NEWS: MIGOS Legend TAKEOFF Murdered In Houston.
RESPECT. sends its condolences to the entire MIGOS family and relatives of Takeoff regarding the tragedy of his murder at …
