Jay Z’s Tidal Sells A Stake To Sprint
Jay Z’s Tidal has sold a one-third stake in its company to Sprint. The announcement was made today, along with the news that Jay Z and the group of artist-owners who helped introduce it will continue to run the service. Marcelo Claure, the CEO of Sprint, will join Tidal’s board. Jay Z said in a statement,
Sprint shares our view of revolutionizing the creative industry to allow artists to connect directly with their fans and reach their fullest, shared potential. Marcelo understood our goal right away, and together we are excited to bring Sprint’s 45 million customers an unmatched entertainment experience.
Tidal’s new partnership will give Sprint customers who subscribe to the streaming service additional content that is only available to them. Sprint, which has 45 million customers, is controlled by SoftBank of Japan. Additional details about the new partnership will be revealed at a later date.