{"id":141442,"date":"2020-12-24T15:55:44","date_gmt":"2020-12-24T12:55:44","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/square-interested-in-buying-tidal-from-jay-z-report\/"},"modified":"2020-12-24T15:55:44","modified_gmt":"2020-12-24T12:55:44","slug":"square-interested-in-buying-tidal-from-jay-z-report","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/square-interested-in-buying-tidal-from-jay-z-report\/","title":{"rendered":"#Square interested in buying Tidal from Jay-Z: report"},"content":{"rendered":"

“#Square interested in buying Tidal from Jay-Z: report<\/strong>”
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So this is what that Hamptons yacht ride <\/a>was all about.<\/p>\n

Tech billionaire Jack Dorsey has reportedly held talks with Jay-Z about his payments firm Square acquiring Tidal, the Brooklyn-born rapp<\/a>er\u2019s music streaming service.<\/p>\n

Dorsey \u2014 also the co-founder and CEO of Twitter<\/a> \u2014 is interested in taking over Tidal in an effort to diversify Square\u2019s business, Bloomberg News reported Wednesday<\/a>, citing an unnamed source familiar with the situation.<\/p>\n

It\u2019s unclear how much the Cash App parent might be willing to pay for Tidal, and the discussions may not lead to a deal, according to the outlet.<\/p>\n

But the report comes after the business duo were spotted in August<\/a> lounging on a yacht in the Hamptons with Jay-Z\u2019s wife Beyonc\u00e9. The tech tycoon and the music mogul were seen again last month hanging out on a beach<\/a> with actor Sean Penn.<\/p>\n

The talks with Dorsey appear to be the latest episode in Jay-Z\u2019s lengthy quest to sell Tidal, which has struggled to compete with larger rivals Spotify and Apple Music, according to a music executive familiar with Tidal\u2019s business.<\/p>\n

The \u201cEmpire State of Mind\u201d artist started shopping Tidal two years after he bought it for $56 million in 2015, thinking he could get $1 billion for it, the exec said. Instead of selling it outright, he got a partner in wireless carrier Sprint, \u00a0bought a 33 percent stake\u00a0at a $600 million valuation.<\/p>\n

\u201cJay-Z has been trying to dump it [Tidal] for a long time,\u201d the exec told The Post. \u201cThe question is, can they dump it?\u201d<\/p>\n

\u201cTidal isn\u2019t worth anything without Jay-Z,\u201d the source said. \u201cIf they did a deal, it would only be because of him and Tidal\u2019s videos.\u201d<\/p>\n

Dragging Tidal down, according to the exec, are its sagging subscribers and lack of strong leadership thanks to four CEO departures in the last five years, including the recent exit of Richard Sanders, who joined from Kobalt Music Group.<\/p>\n

The privately traded company doesn\u2019t release its subscriber numbers, but reports put them between 1 million and 5 million, well below industry leader Spotify\u2019s 286 million global subscriber base.<\/p>\n

Tidal could nevertheless give Square an opportunity to both broaden its business model and capitalize on its loyal customer base, according to Wedbush Securities analyst Daniel Ives.<\/p>\n

\u201cSquare already had customer trust, and there\u2019s a cross-sale opportunity when you look at streaming,\u201d Ives told The Post. \u201cThe company has really become an e-finance gargantuan over the last few years. This is Dorsey just further expanding their mode, potentially into music streaming.\u201d<\/p>\n

Dorsey also hopes to bring a wider range of products and services under Square\u2019s roof in a setup similar to Disney, where he sat on the board for more than four years, Bloomberg reported.<\/p>\n

But a second media exec said it\u2019s \u201cincredibly ironic\u201d that Dorsey would own a music service given that Twitter has been bad about paying artists royalties. When someone posts a video or a song to Twitter, the artists has to ask for the material to be taken down because, unlike Facebook and other social media companies, Twitter won\u2019t agree to license the content.<\/p>\n

Tidal has touted itself as a musician-friendly streaming service, promising artists better royalties than its rivals regardless of whether they\u2019re signed to a label. But it\u2019s also been reportedly accused<\/a> of not paying artists their royalties. Kanye West left the service <\/a>in 2017 with money gripes.<\/p>\n

Jay-Z is among more than 20 \u201cartist-owners\u201d of the service alongside Beyonc\u00e9, Alicia Keys, Rihanna, Madonna and others, according to its website.<\/p>\n

Tidal was also the exclusive home of Jay-Z\u2019s musical catalog \u2014 until he put his albums back on Spotify last year, a surprise move that spurred speculation about Tidal\u2019s viability.<\/p>\n

Tidal also faced a criminal probe in Norway over allegations that it inflated streaming numbers for artists including Beyonc\u00e9 and Kanye West. The company denied wrongdoing.<\/p>\n

Neither Square nor Tidal immediately responded to a request for comment Thursday.<\/p>\n

With reporting by Nicolas Vega<\/em>\n <\/div>\n

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“#Square interested in buying Tidal from Jay-Z: report” So this is what that Hamptons yacht ride was all about. Tech billionaire Jack Dorsey has reportedly held talks with Jay-Z about his payments firm Square acquiring Tidal, the Brooklyn-born rapper\u2019s music streaming service. Dorsey \u2014 also the co-founder and CEO of Twitter \u2014 is interested in…<\/p>\n","protected":false},"author":1,"featured_media":141443,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2020\/12\/tidal-square.jpg?quality=90&strip=all&w=1200","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[74927,87636,73952,40962,70584,87773],"class_list":["post-141442","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-square","tag-12-24-20","tag-jack-dorsey","tag-jay-z","tag-mergers-acquisitions","tag-tidal"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/141442","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=141442"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/141442\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/141443"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=141442"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=141442"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=141442"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}