Making the economy work for artists is similar to what Square has done for sellers. On Fr. New ideas are found at the intersections, and we believe there’s a compelling one between music and the economy. 27 likes, 0 comments - PPP TV (ppptv) on Instagram: 'JAY-Z has reportedly added even more wealth to his net worth after closing the TIDAL deal. Why would a music streaming company and a financial services company join forces?! It comes down to a simple idea: finding new ways for artists to support their work. TIDAL is the first global music streaming service with high fidelity sound, hi-def video quality, along with expertly curated playlists and original content. Jay Z gets a seat on the board of Square, which is Dorsey’s main company, a cash app.ĭorsey said on Twitter, “ 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. Square, the mobile payments company co-founded by Twitter ’s Jack Dorsey, is acquiring a majority stake in Jay-Z ’s Tidal. He’s sold the service to Twitter star Jack Dorsey’s Square for $297 million. TIDAL is now majority-owned by Jack Dorsey’s Square, after a deal was reportedly finalized between Dorsey and Shawn ‘Jay-Z’ Carter on Friday (April 30). Since Square, the payments-processing company led by CEO (and Twitter founder) Jack Dorsey, announced plans to buy a significant majority stake in Tidal, the music and entertainment. Dorsey, announced on Thursday its plan to acquire a significant majority of Tidal, the streaming music service owned by Jay-Z and other artists. Tidal has never competed with Spotify or Apple Music. Square, the mobile payments company led by Mr. I tweeted that the primary value-add was data. Music streaming is a low-margin business, and Tidal is far behind its competitors. Jay Z called the service Tidal, and the rest is misery. According to Bloomberg, Square CEO Jack Dorsey wants to add more complementary business lines to a group that includes Seller and Cash App. Back in March 2015, we broke the story that Jay Z had bought a Swedish streaming service and was bringing in heavy hitters like Beyonce, Madonna and Kanye West as partners.
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