Just when you think emcee/rap mogul JAY Z couldn’t change the game anymore than he already has, he does it again. Such is the case with his music streaming service TIDAL being acquired by Sprint earlier today in an unprecedented partnership that will make the streaming service available to Sprint’s 45 million customers.
The new 33% stake the mobile carrier acquired of TIDAL allowing Sprint’s customers unlimited access to exclusive artist content not available anywhere else. Giving TIDAL and artists even more consent to make exclusive content that will only be available to Sprint’s current and new customers.
The exclusive content seeming to be a central part of the partnership according to the press release. So while it’s unknown if Sprint’s customers will get the service for free or have some sort of discounted rate offered, it’s definitely a move that has both good and bad points for both companies at this point.
JAY having this to say in the new press release circulating about the move, “Sprint shares our view of revolutionizing the creative industry to allow artists to connect directly with their fans and reach their fullest, shared potential. (Sprint CEO) Marcelo (Claure) understood our goal right away and together we are excited to bring Sprint’s 45 million customers an unmatched entertainment experience.”
While it should definitely significantly help grow TIDAL’s user base to help catch up a little with streaming industry leaders Spotify and Apple Music, it will also be somewhat bad for music fans and the industry itself. As Sprint is said to have paid $200 million for their share of the service with another additional $75 million annual marketing budget. That money being what they will throw at the 20 artists-owners to keep their content exclusive to TIDAL.
It will definitely be interesting to follow how the rest of this partnership really works out for both companies, as more news comes out about it. In a way it’s another smart business move by JAY that really shows he wasn’t kidding about the way he flips thinks for a profit too.