Sprint Buys 33 Percent Stake in Tidal
Amidst some chatter that Tidal is struggling, word last week being that the streaming service may be inflating subscription numbers, comes news that Sprint has purchased a 33 percent stake in the company, the two brands announcing a partnership today (Jan. 23). Sprint's 45 million customers will receive access to exclusive content created by Tidal artist-owners, with Sprint CEO Marcelo Claure joining the streaming service'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 says in a statement. “Marcelo understood our goal right away and together we are excited to bring Sprint’s 45 million customers an unmatched entertainment experience.”
The new partnership will aim to grow the customer reach of both companies, with Tidal's artist-owners continuing to bridge the gap between creator and consumer. “Jay saw not only a business need, but a cultural one, and put his heart and grit into building TIDAL into a world-class music streaming platform that is unrivaled in quality and content,” Claure said. “The passion and dedication that these artist-owners bring to fans will enable Sprint to offer new and existing customers access to exclusive content and entertainment experiences in a way no other service can.”
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