Sprint Buys 33% of Jay Z’s Tidal, Artist-Owners Still Running Company

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    Jahkno!
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    Celeb-owned music-streaming service Tidal is getting a boost from a major US carrier.

    Sprint announced Monday that it is buying 33 percent of the service, which is famous for being backed by rapper Jay Z.

    Buying a third of Tidal will allow Sprint to offer the service, as well as exclusive artist content not available elsewhere, to all 45 million of its customers across the US. Meanwhile, the service will continue to be run by the artists that own it, although Sprint’s chief executive Marcelo Claure will join Tidal’s board.

    Tidal has long trailed behind rivals like Spotify and Apple Music when it comes to subscribers, but Sprint pushing its customers towards the service could help increase user numbers.

    “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.

    Sprint did not immediately respond to request for further comment.

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