JAY-Z To Reportedly Sell TIDAL for $350 Million USD

Music mogul JAY-Z is reportedly selling his TIDALstreaming service for a whopping $350 million USD.

XXL Magazine reports that JAY-Z is selling TIDAL to Square Inc., a financial company owned by Twitter CEO Jack Dorsey. The deal gives Square 80 percent ownership of TIDAL, as well as allows the company to acquire the licensing deals with all major record labels. However, artists and owners are expected to stay with TIDAL. Additional information indicate that Square Inc. is set to pay $297 million USD in cash and stocks.

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Jack Dorsey’s Square Acquiring Majority Ownership Stake in Jay-Z’s Tidal for $297 Million

Square, the mobile payments company co-founded by Twitter’s Jack Dorsey, is acquiring a majority stake in Jay-Z’s Tidal.

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Apple, Spotify, More Streaming Services Pay $424 Million in Unmatched Royalties for Songwriters and Publishers

On Wednesday, the Mechanical Licensing Collective announced it had received $424.38 million in unmatched royalties from Apple Music, Amazon Music, and Spotify among other streaming services. Variety reports that these streaming services paid the accrued historical unmatched royalties, often called “black box money,” to the MLC in order to get these royalties to copyright holders, songwriters, and publishers who have applied to be MLC members.

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JAY-Z Becomes First Billionaire Rapper

JAY-Z has amassed a fortune that amounts to $1 billion, but how did he get there?

Kanye West reportedly quits Tidal over money dispute

Kanye West has been one of Tidal’s biggest champions: he joined the company the moment Jay-Z relaunched its service, and The Life of Pablowas one of the streaming music service’s largest (if temporary) exclusives. However, it appears that the relationship has… soured. TMZ sources claim that Kanye has left the company over a payment squabble involving both Life of Pablo and music videos. It’s reportedly a messy dispute, and certainly not what Tidal wanted in an already tumultuous period for the business.

Jay Z’s Tidal Music Streaming Service Being Accused Of Inflating It’s User Numbers

In March of 2015, Jay Z acquired Tidal’s Oslo-based parent company Aspiro, for $56 million. Tidal quickly inked many A-list artists to deals for it’s music streaming service.

Apple Reportedly in Talks to Acquire Jay Z’s Tidal Streaming Service

Apple is reportedly in talks to purchase Jay Z’s music streaming service Tidal, a source told The Wall Street Journal. As of now, no details are known about the potential acquisition, but if true, it will likely result in a big payday for Tidal’s artist owners, including Rihanna, Nicki Minaj, Kanye West, and Pharrell.

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