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

It’s not that Tidal has been unsuccessful. It just hasn’t been the most successful, either. Earlier this year, Jay Z accused the folks at Tidal of falsely jacking up the number of subscribers. Jay Z initially bought into the company for a $56 million price tag.

Sprint Tidal Jay Z BandRumors.com

Jay Z is laughing all the way to the bank.

So at the very least, Jay Z will at least be recouping his investment. But where will Tidal go from here? In the past few months, Tidal has had numerous layoffs and subscription numbers are going down. For reference, Jay Z has stated that Tidal has roughly 850,000 subscribers (though that number is controversial). On the other hand, Spotify passed the 4o million subscriber mark last year.

Sprint isn’t the most popular cell service, either. Right now, it’s ranked fourth in popularity behind Verizon, AT&T and T-Mobile. Maybe Sprint’s matchup with Tidal will do some good for both companies.

BandRumors Staff

 

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