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.
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.