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Sprint buys 33% of TIDAL...


miguelito
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Jay Z bought Tidal for $56MM, so $200MM for a one third stake tells he did ah-ight

With the losses, he must have put about $100M in it. Jay Z won't pocket all of the $200M.

 

They have been losing about $2M per month.

 

TIDAL parent lost around $2m a month last year, while seeking extra financing - Music Business Worldwide

 

It's hard to see how they will make it up on volume.

Jim Hillegass / JRiver Media Center / jriver.com

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Interesting. Maybe Sprint has something in mind to have it's own content provider like Apple, Google and Amazon. I could see Sprint allowing free Tidal (with Commercials) for it's subscribers or something along those lines.

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Darko's news piece today stated that the idea may be to forge ahead in Japan (Sprint is owned by a Japanese cell company) where music streaming is not as popular as in the US and Europe.

Tidal obviously needs to do something to stem the losses, so if that works then great. My guess is that those of us who pay extra for full rez will always be a small minority and not enough to keep a company going. So if I have to give up exclusives to Bon Jovi and Madonna, I am very happy to do so to keep Tidal afloat. Not that I listen to either.

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