Square In Talks To Buy Jay-Z’s Tidal: Report

Date:

- Sponserd Ads -

Digital payments company Square has held talks to acquire Jay-Z’s Tidal music streaming service, Bloomberg News reported late Wednesday.

Square chief executive Jack Dorsey, who also leads Twitter, aims to expand and diversify the company, according to the report, which was based on an unnamed source.

Bloomberg said the talks may not result in a transaction.

Jay-Z bought Tidal from Europe-based Aspiro in 2015 year in a deal valued at slightly more than $56 million.



Jay-Z's Tidal has struggled to compete against much larger streaming services such as Spotify and Apple


Jay-Z’s Tidal has struggled to compete against much larger streaming services such as Spotify and Apple
 GETTY IMAGES NORTH AMERICA / Gustavo Caballero

Owners include several other high-profile artists, including Madonna, Rihanna and Jay-Z’s wife, Beyonce.

But Tidal has struggled to compete against much larger streaming services such as Spotify and Apple. The privately-held company had three million paying subscriptions in 2016, when it last disclosed figures.

Jay-Z surprised fans in December 2019 by moving his music catalogue back to Spotify after a two-year hiatus.

Apple in 2016 also reportedly explored a purchase of Tidal to bolster its music streaming offerings.

Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Share post:

Popular

More like this
Related

Miss India Australia 2021 Winner

Sanya Arora, 22 years, dermal therapist, from Melbourne, has been...

Visa changes to support the reopening of Australia and our economic recovery

The Morrison Government is making it easier for highly...

Sydney international terminal bustling once again

After nearly 600 days of closed foreign borders, I...