Making the economy work for artists is similar to what Square has done for sellers. He says that “New ideas are found at the intersections, and we believe there’s a compelling one between music and the economy. With the new partnership, Jack Dorsey says Square and Tidal are looking to reshape the music streaming business with the goal of “finding new ways for artists to support their work.”
However, this isn’t just about running a business profitably and more about success for the greater artist community. A press release says that Tidal will operate in the Square ecosystem of companies alongside Cashapp and Seller. That’s 20-45x less than Apple Music and Spotify. Square expects to pay a mix of cash and stock of 297 million for a significant majority ownership stake and existing artist shareholders will be the remaining stakeholders. You know this town, even if you have never been here. Last we heard from Tidal back in 2016 it had just 3 million subscribers. The dateline is Elyria, Ohio, a city of 55,000 about 30 miles southwest of Cleveland. Now it’s surfaced that the fintech company is slated to. While Tidal has had some unique selling points early on like a hi-res offering it hasn’t been able to build a large customer base. Acquired Organization: TIDAL TIDAL is a music and entertainment platform that creates connects artists and fans, giving them exclusive. We heard a surprising report back in December that Square was in talks with music streaming service Tidal about a possible acquisition. Former Apple Music exec Jimmy Iovine famously talked about how there are “no margins” in streaming and Spotify has been consistently been losing money most quarters for over a decade and those are the two most popular paid services. Tidal was built on an artist-owned and led model and Dorsey believes the new Square and Tidal partnership will result in greater success with a focus on artists’ needs and growing their. Music streaming services are notorious for being very difficult to run profitably. The new partnership is aiming to translate the success of Square in the fintech space to Tidal’s artist-owned and led approach to music streaming.Īs my colleague Ben Lovejoy outlined back in December, this is a curios deal to say the least.
Now it’s surfaced that the fintech company is slated to buy a majority stake in the niche music streaming service for $297 million. Square buys Tidal for 297 million, Jay-Z joins board Maat 11:38 AM Yahoo Finance’s Julie Hyman, Myles Udland, and Brian Sozzi discuss news of Square’s acquisition of Jay-Z’s Tidal. We heard a surprising report back in December that Square was in talks with music streaming service Tidal about a possible acquisition. The density of crab eggs on the beaches bordering New Jersey and Delaware, rose to about 10,000 per square meter during this year’s migration in May, Dr.
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