Chi-Chingg…. Sprint Buys 33% Stake in Jay Z’s Tidal Streaming Service

While Jay Z remains quiet on the music front, Jay Z continues to make moves in business world.

His latest money move was announced early Monday morning as wireless carrier Sprint is set to acquire 33% of Tidal, Hov’s music streaming service. Sprint reportedly coughed up $200 million for the stake, which is set to bring the service to its 45 million customers.

One of Tidal’s main selling points upon its announcement was that the artist-owners were properly compensated. With Sprint’s buy-in, none of that will change.

Estimated by Billboard to boast an annual budget of $75 million, the partnership will give participating artists the “flexibility to create and share their work” with subscribers.

It sounds like more Tidal exclusives are on the way.

Source: TUD

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