Home Entrepreneurs Good Idea More Valuable than Profit, Sprint Buys 33% of TIDAL

Good Idea More Valuable than Profit, Sprint Buys 33% of TIDAL

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Jay Z
Sprint buys 33% of Tidal

They say you should always start your business based on passion first, this is inevitable if you want to succeed. Nobody knows what you do LIKE you do nor will they have the motivation, drive and skill set to make it happen.

Jay Z was brilliant when he did the press conference for TIDAL, reassembling a company that did something no other streaming service did, it made the artists part owners of their own music and returned a greater profit to them than other streaming services. Amidst many reports that Tidal was not making money, creating artist exclusives was a brilliant idea and obviously one that paid off today. Wireless carrier Sprint stated today that they are buying a 33% of Tidal. This move has to be largely related to the artist exclusives that no other streaming services have. They paid 200 million to Jay-Z and each of the company’s other artist owners who remain and just made a nice profit.

Sprint shares rose 3.4% after the announcement. Exclusive content from Tidal will now be available to Sprint’s 45 million retail customers, in addition, Sprint chief executive Marcello Claur we’ll joint Tidal’s board. Apple was in talks to buy Tidal but was slow to move. This new deal, however, makes the company more appealing. Jay-Z paid 56 million for Tidal in 2015.

Kevin "KevRoss" Ross is a music and radio industry expert. He is a 20 -plus year entrepreneur with the leading most successful industry trade publication and site Radio Facts (www.radiofacts.com). He has also published various books, magazines, performed marketing and promotions for major corporations and recording artists and he is on the advisory board of several industry organizations. This year Ross introduced his non profit organization LOMARI (Leaders of the Music and Recording Industry) to help teach young minority students how to market and manage their music and products.

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