Sprint announced on Monday that it has acquired a 33-percent stake in Jay-Z’s music service TIDAL. The news follows a report last fall that suggested Apple was interested in acquiring TIDAL before Apple shot those rumors down.
The streaming service has had a hard time competing against Spotify, Pandora, Google Play Music and other streaming radio options, and once came under fire for inflating active user metrics. Perhaps Sprint can help solve some of that problem.
Sprint said Jay-Z and other artist-owners will “continue to run TIDAL’s artist-centric service” but that Spring CEO Marcelo Claure will join the board of directors. “The formidable pairing of Sprint and TIDAL will grow customers on both platforms by offering exclusive access for customers who subscribe to TIDAL,” Sprint said, suggesting that perhaps new or existing customers will get special deals on TIDAL.
Sprint/TIDAL promos coming soon
One can imagine a scenario, for example, where Sprint customers can steep discounts or even free service to TIDAL on special plans. Sprint didn’t detail those plans yet, but the company said that it will unveil “exclusive offers” and promotions in the near future.
For now, this still largely looks like the number four carrier buying into a failing music service, so I’m curious to see how it pans out in the future, and if Sprint can indeed breathe some life into TIDAL.