In 2014 Jay-Z bought Tidal for a reported $56 million and now a lucrative deal that saw him sell a 33% stake to Sprint for $200 million sees the company’s new value rise to an enticing $600 million.
With Sprint CEO Marcelo Claure now officially on Tidal’s board the deal includes a fund for artist marketing and exclusive content worth $75-million.
2015 saw Tidal lose $28 million as it struggled to cement its spot in the music-streaming business and Apple, Amazon, SoundCloud and Google have all entered the space, and Pandora. In just over a year Apple Music has grown to a reported 20 million subscribers while Spotify has a total of 100 million listeners.
At this current moment Tidal has a reported 3 million subscribers but lets hope this new deal will help catapult Jay-Z’s company into the mix with Apple and co…