TIDAL Sells 33% Of Shares to Sprint

Music streaming service TIDAL has sold 33% of its shares to the American mobile brand Sprint, in a move some may be unhappy with, citing TIDAL‘s loud status as “for the artists”.

The service which launched under rapper Jay-Z back in 2015 has struggled with finding its native audience, due to its battle with streaming giants Spotify and Apple Music.

The 33% share deal to Sprint will allow Sprint to offer the service to customers in exchange for deals, similar to what many phone brands do with Spotify in the UK.

Sprint have reportedly paid $200 million to TIDAL investors, which includes the likes of Daft Punk, Beyoncé and Arcade Fire, while could be seen as a sell-out move against the service’s touted code of ethics, Sprint will not effect the directorial board and the artists ability with the service.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s