Tidal currently hosts a catalogue of more than 70m songs streaming to listeners in more than 56 countries. This partnership will be a game changer for many.” Less than a week after Square launched its new bank to support. This shared vision makes me even more excited to join the Square board. Square Expands Its Economic Empowerment Vision into Music Industry with TIDAL Acquisition. “Jack and I have had many discussions about Tidal’s endless possibilities that have made me even more inspired about its future. “Artists deserve better tools to assist them in their creative journey,” said Jay-Z. Jay-Z will also be joining Square’s board following the close of the transaction, which is expected in the second quarter of this year. “It comes down to one simple idea: finding new ways for artists to support their work,” said Dorsey.įollowing the deal, Tidal will be led by Square’s current hardware lead, Jesse Dorogusker, on an interim basis. Square intends to integrate its payments technology with Tidal in order to enable artists to better monetise their music. ‘This partnership will be a game changer for many’
And last month, the two teamed up to form a bitcoin trust to fund bitcoin development in Africa and India. Last summer, he and Jay-Z were spotted in the Hamptons together. Dorsey plays a dual leadership role as CEO of both Square and social media platform Twitter. Square is a mobile payments company led by co-founder Jack Dorsey. While Square is set to take a significant majority stake in the company following the transaction announced today (4 March), Tidal’s previous owners – including Jay-Z – will continue as co-owners and the second-largest group of stakeholders. As well as music and video streaming, Tidal offers users exclusive content from the artists it hosts. The Tidal music streaming service was uniquely owned by musicians after rapper Jay-Z, in partnership with other artists such as Beyoncé and Rihanna, bought the platform in 2015 in a $56m deal. Square has announced its plan to acquire a majority share in Tidal for $297m in stock and cash. All rights reserved.Tidal will remain co-owned by the artists that bought the music streaming platform in 2015. Benzinga does not provide investment advice. Kings Of Leon To Release New Album As 3 NFTs Photograph courtesy of Square.Ĭlick here for options trades from BenzingaĮxclusive: Thryv Holdings CEO Joe Walsh On SaaS Platform's Guidance Beat SQ Price Action: Square shares were down 6% at $220.15 at last check Thursday. This partnership will be a game-changer for many.” 'The acquisition extends Squares purpose of economic empowerment to a new vertical: musicians,' said a statement from the finance tech firm led by.
The median age in Fawn Creek is 51.2, the US median age is 37.4. This shared vision makes me even more excited to join the Square board. Digital payments firm Square said Thursday it was buying a controlling stake in the streaming music platform Tidal from a group led by rap star Jay-Z for 297 million in cash and stock. There are 26 people per square mile aka population density. I knew TIDAL was something special as soon as I experienced it, and it will continue to be the best home for music, musicians, and culture.”Ĭarter said artists deserve "better tools" to help in their creative journey. “New ideas are found at intersections, and we believe there’s a compelling one between music and the economy. Why It Matters: “It comes down to one simple idea: finding new ways for artists to support their work,” said Jack Dorsey, cofounder and CEO of Square. All of Tidal’s artist shareholders will continue as co-owners of the platform. Rapper and business executive Shawn “Jay-Z” Carter, a Tidal board member and shareholder, is expected to join Square’s board of directors after the deal closes. Tidal offers a catalog of more than 70 million songs and 250,000 videos, and it claims relationships with more than 100 labels and distributors and a listener base in 56 countries. In a press statement, Square said its majority stake expands the company’s “purpose of economic empowerment to a new vertical: musicians.” What Happened: Tidal was launched in 2014 by the Norwegian company Aspiro, which was acquired by Project Panther Bidco Ltd., a British-American holding company, one year later. (NYSE: SQ) has acquired a majority ownership stake in Tidal, the global music and entertainment platform, in a $297 million cash-and-stock transaction.
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