This deal is partly about Tidal raising money, but also Sprint looking for ways to differentiate itself from other mobile carriers. TIDAL is live in over 52 countries, with 42.5 million+ song catalog and 140,000 high-quality videos, the company says. Tidal has also reportedlybeen in acquisition discussions with Apple and Rhapsody. In other words, both of those are considerably lower than the $200 million mentioned today. If you consider that Samsung was rumored to be looking at buying Tidal last year for a price of around $100 million, its a $33 million stake. We have contacted Sprint to comment on this and all that a spokesperson would say is: We dont provide financial figures. Meanwhile, if you consider Tidals reported valuation of $250 million when relaunched by Jay-Z and a consortium of shareholders that included a number of famous artists, the stake is worth some $82.5 million. Music Business Worldwide is reporting it at $200 million, valuing Tidal itself at $600 million. Marcelo understood our goal right away and together we are excited to bring Sprints 45 million customers an unmatched entertainment experience. The value of the stake is not being disclosed. Sprint shares our view of revolutionizing the creative industry to allow artists to connect directly with their fans and reach their fullest, shared potential, said JAY Z in a statement. Now, Sprints chief executive officer, Marcelo Claure, will also join TIDALs Board of Directors. Recall that Sprint and Tidal first started to work together in 2015, announcing a relationship at the relaunch of Tidal, although the companies never revealed details about what they were doing together and specifically denied investing in Tidal. Tidal and its artists will make exclusive content that will only be available to current and new Sprint customers, the companies noted. Sprint said that it plans to make the service available to its mobile users, which today number 45 million across both subscription and pre-paid tiers. Today, Sprint, itself owned by Softbank, announced it would take a 33 percent stake in Tidal, the streaming music startup that was majority acquired by Jay-Z and relaunched in 2015 as a platform to compete against the likes of Spotify and Apple Music, offering high-definition audio services with an emphasis on exclusive content from popular artists. Here's an interesting turn of events in the ongoing story of the streaming music industry.
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