Sprint announced that they will be acquiring 33% of Jay Z’s music streaming service TIDAL earlier today and will be offering exclusive content to their users.
According to Billboard, Sprint purchased it’s stake in the company for $200 million, meaning Hov has already made a decent return on investment, having bought TIDAL’s parent company Aspiro for $56 million back in 2015.
Jay Z and the artist-owners of TIDAL will continue to run the company under the new partnership, while Sprint’s CEO, Marcelo Claure, will join TIDAL’s Board of Directors.
“Sprint shares our view of revolutionizing the creative industry to allow artists to connect directly with their fans and reach their fullest, shared potential,” Jay Z said in a statement this morning. “Marcelo understood our goal right away and together we are excited to bring Sprint’s 45 million customers an unmatched entertainment experience.”
Interested in signing up for TIDAL? You can get 60 days of free service in the US using this link.