Home » Music News » Sprint Buys Stake in Jay Z’s Failing Streaming Service Tidal for $200M

Sprint Buys Stake in Jay Z’s Failing Streaming Service Tidal for $200M

Jay Z‘s music streaming service Tidal isn’t the most popular one out there, but it’s finally found a business backer. Sprint has just revealed that they’d be taking over a third of Tidal.

Hopefully Sprint has some sort of plan on what to do with Tidal, because they bought it for a hefty price tag. Despite only being two years old, Tidal is estimated to be worth $6oo million. That means Sprint had to spend $200 million to nab up that one third share.

Unlike other streaming services, Tidal is primarily owned by artists. Along with Jay Z, other artists with a stake in the company include Beyonce, Rihanna, Kanye West, Calvin Harris, Madonna and Jack White.

Sprint Tidal Jay Z BandRumors.com

Some of the artists on board with Jay Z’s streaming service.

The reason Tidal has been able to scrape by is thanks to exclusive agreements with many of these musicians. Artists will release an album solely on Tidal, which forces users to pay the subscription fee if they want to hear that music. Or, you know, pirate it.

Related: Kanye West Blames Apple & Tidal for Screwing Up His Music

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