Jay Z To Pick Up Music Streaming Service Tidal?

When it comes to technology and music, you know for sure that Jay Z does not shy from the digital medium. In fact, the music mogul did release his Magna Carta Holy Grail album to a million Galaxy device owners. Having said that, it seems that Jay Z, rich as he is, will be snapping up Tidal, a high-quality music streaming service that was previously owned by a Norwegian company. The entire bid stood at approximately $56 million after conversion, and the company’s reviewing board has recommended that all of its shareholders ought to pick up Jay Z’s offer.

It is not all that simple on paper though, as “Project Panther,” a company indirectly owned by Jay Z’s S. Carter Enterprises, was the one that decided to bid for Aspiro, a company which actually runs Tidal. It also has a similar service known as WiMP, where the WiMP service actually has more than 500,000 paying subscribers as of last September prior to Tidal’s launch. While this does not mean that Tidal will go up against the likes of Spotify or Beats Music directly, it does seem as though it is moving down that path, and with Jay Z’s global superstar popularity, you can be sure that this potential acquisition would definitely see Tidal’s profile rise.

Edwin Kee
Categories: Audio
Tags: jay z