For a whopping $200 million.
Sprint purchased 33 percent of TIDAL for a reported $200 million.Tidal has endured an uphill battle from day one, but perhaps a newly-inked deal with Sprint will keep the streaming service afloat. The artist-owned platform, created by Jay Z and co-owned with 24 other artists, including Madonna, Nicki Minaj and Beyonce, will give Sprint subscribers “unlimited access to exclusive artist content not available anywhere else.” 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.Sprint's CEO Marcelo Claure joined Tidal's board of directors, Pitchfork reports. He said:
Jay saw not only a business need, but a cultural one, and put his heart and grit into building TIDAL into a world-class music streaming platform that is unrivaled in quality and content. The passion and dedication that these artist-owners bring to fans will enable Sprint to offer new and existing customers access to exclusive content and entertainment experiences in a way no other service can.A $75 million marketing effort will support artist initiatives and exclusives that will be only available to Sprint subscribers. Tidal previously claimed to house 3 million subscribers, but internal documents recorded only 1.2 million activated accounts and 850,000 subscribers, The Verge reports. The news comes more than six months after reports suggested Jay Z was in talk with Apple to purchase Tidal, but reps for the company swiftly denied this (much to the dismay of Kanye West). Tidal is also under fire from Prince's estate, who claim they don't have the rights to stream the late singer's catalogue of music.