News

# Square interested in buying music-streaming service Tidal from Jay-Z: report

Table of Contents

“#
Square interested in buying music-streaming service Tidal from Jay-Z: report
”

Square looking to diversify, Bloomberg News reports

Square Inc.
SQ,
-4.51%
has expressed interest in buying Tidal, Jay-Z’s music-streaming service, Bloomberg News reported late Wednesday.

The digital payments company, run by Jack Dorsey — who’s also Twitter Inc.’s
TWTR,
-1.11%
CEO — is looking to diversify, Bloomberg said, adding that negotiations are private and may not end in a deal. A price was not mentioned.

Rapper and entrepreneur Jay-Z bought Tidal in 2015 for $56 million, and relaunched it as an artist-owned service offering higher-fidelity music than its streaming rivals, such as Spotify SA
SPOT,

+2.74%

and Apple Music.

Dorsey has been spotted socializing with Jay-Z twice in recent months.

Apple Inc.
AAPL,
-0.70%
reportedly tried to buy Tidal in 2016, and Sprint bought a $200 million stake in the company in 2017.

Tidal has struggled to win over consumers, and has not updated its subscriber numbers since 2016, when it reported 3 million paying users. While it offers a $9.99-a-month standard plan, its $19.99-a-month premium sound-quality plan is about twice the price of its competitors.

Mike Murphy

If you liked the article, do not forget to share it with your friends. Follow us on Google News too, click on the star and choose us from your favorites.