New ideas are found at the intersections, and we believe there’s a compelling one between music and the economy. “It comes down to a simple idea: finding new ways for artists to support their work. Why would a music streaming company and a financial services company join forces?!”
“Square is acquiring a majority ownership stake in TIDAL through a new joint venture, with the original artists becoming the second largest group of shareholders, and Jay-Z joining the Square board. He will now be named to Square’s board of directors, and he will be in charge of two popular apps under the brand, “Seller” and “Cash App.” Jack Dorsey took to Twitter to boast about the lucrative deal. Square is a mobile device, which premiered to the public in May 2010, that allows vendors to sell products and accept credit card purchases.ĭon’t get stuck on that quarter-billion number, because the most extraordinary aspect of the deal is what Jay-Z gets out of it. I look forward to all this new chapter has to offer!” This partnership will be a game-changer for many. This shared vision makes me even more excited to join the Square board. Jack is one of the greatest minds of our times, and our many discussions about TIDAL’s endless possibilities have made me even more inspired about its future. Artists deserve better tools to assist them in their creative journey. In other words: if music fans stream more on a service in a given month, its per-stream payout will go down if music fans stream less in a given month, its per-stream rate will go up.“I said from the beginning that TIDAL was about more than just streaming music, and six years later, it has remained a platform that supports artists at every point in their careers. users playing loads of music) when it comes to calculating their per-stream rate. users not playing much music) therefore have a natural advantage over those with high engagement (i.e. Instead, they pay out a percentage of their total revenue – which is then, crucially, divided up on the basis of an individual artist/label’s popularity across their platform. However, per-stream rates – as cited in TIDAL’s ad – should always be taken with a pinch of caution.Īs MBW explained in our analysis of recent claims from Apple Music, streaming services don’t actually calculate and pay royalties on a per-stream basis. TIDAL’s Average Revenue Per User (ARPU) number will also be dragged up by dint of its TIDAL Hi-Fi tier, which costs double the standard monthly subscription price ($19.99 vs.
/cdn.vox-cdn.com/uploads/chorus_image/image/68910503/jay_z_spotify.0.jpeg "jay z sells tidal")
#JAY Z SELLS TIDAL FREE#
One reason for that is because TIDAL doesn’t have a free tier – meaning every non-triallist using its service is paying something for the privilege. TIDAL certainly does pay out, on average, more per stream than many of its rivals: data published by The Trichordist last year, for example, suggested that TIDAL was paying $0.00876 per stream, with Spotify way down on $0.00348. In addition to showing off about TIDAL’s hi-def audio capabilities, the ad – as seen on social media this week – makes the bold claim that TIDAL “pays artists 4X more per stream than the other guys”.
#JAY Z SELLS TIDAL TRIAL#
The acquisition of TIDAL by Square comes as the streaming music platform rolls out an interesting online campaign designed to hook consumers into signing up for its 30-day trial offer. TIDAL’s new online ad claims it pays 4X more per stream “than the other guys” The platform posted an operating loss in 2019 of $55.3 million. Jay-Z initially acquired TIDAL via the vehicle Project Panther Bidco, whose latest financial filings for TIDAL reveal that the platform generated $166.9 million in the calendar year of 2019, up 26.4% YoY. However, it’s not far off half the size of the $600 million enterprise valuation TIDAL achieved when telco Sprint acquired a 33% stake in the music platform for $200 million in 2017. For Jay-Z, a $350 million sale represents a multiple of around seven times on the €50 million (approx $56 million) he paid to acquire TIDAL – then linked to Scandinavian service WimP – in 2015.
0 kommentar(er)
