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Sprint acquires 33% of Jay Z’s Tidal for $200 million

Sprint announced on Monday its partnership with global music and entertainment platform TIDAL when it acquired 33% ownership stake in Tidal for a sum of $200 million as reported by billboard.

The partnership will give Sprint’s 45 million retail customers unlimited access to exclusive artist content not available anywhere else.

“Sprint shares our view of revolutionising the creative industry to allow artists to connect directly with their fans and reach their fullest, shared  potential,” said JAY Z. “Marcelo understood our goal right away and together we are excited to bring Sprint’s 45 million customers an unmatched entertainment experience.”

The innovative TIDAL platform, combined with Sprint’s award-winning reliable network and best value for unlimited data, talk and text, will deliver a first-of-its-kind experience for music fans.

“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,” said Claure. “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.”

Jay Z has acquired  the Swedish tech company Aspiro, including Tidal and a service called WiMP for $56 million.

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