TELECOMS GIANT SPRINT BUYS 33% OF JAY-Z’S TIDAL. 💰📈
Despite accusations of Jigga cooking the books by over inflating TIDAL’s subscription numbers🤔, telecommunications giant Sprint has decided to partner up with Jay anyway🤝. A move which is expected to usher in a new level of exclusive content for the company’s customers. Sprint acquired a 33 percent stake in the company, with the Brooklyn mogul and his fellow artist-owners retaining their leadership posts.
Sprint didn't reveal any terms in its announcement, but billboard sources say the deal is worth $200 million (R2, 67 billion). Some easy math will tell you that puts Tidal's overall value at $600 million (R8 billion), (not bad for a $56 million investment😤) “Sprint shares our view of revolutionizing the creative industry to allow artists to connect directly with their fans and reach their fullest, shared potential,” said Jay Z via the statement.
“Marcelo understood our goal right away and together we are excited to bring Sprint’s 45 million customers an unmatched entertainment experience.”
The service boasts of being available in 52 nations and hosting 42.5 million songs in its vast library. TIDAL also hosts around 140,000 videos as well. 📈
The details of the Sprint deal haven’t been outlined yet, but it could put the user level of the service at or near the top if numbers shake out as projected.