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Sprint Takes a 33% Stake In Music Service Tidal

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Jan 23, 2017, 8:30 AM by Eric M. Zeman

Sprint today said it has acquired a 33% stake in Tidal, a music and entertainment platform. Sprint plans to make Tidal's service available to its 45 million retail customers. Tidal is known for music and video exclusives from select artists. Sprint says Jay Z and Tidal's other artist-owners will continue to operate the business, though Sprint CEO Marcelo Claure will join Tidal'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," said Jay Z. "Marcelo understood our goal right away and together we are excited to bring Sprint's 45 million customers an unmatched entertainment experience." Tidal was created with fans in mind and claims to offer a better experience than competing music products. Much of the platform and content is created directly by the artists involved. Tidal is already available in 52 countries and has a catalog of more than 42 million songs and 140,000 videos. Sprint said more details about its Tidal offering will be unveiled soon.

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