“Square has also set a high standard for building elegant, accessible, and fair tools for sellers and individuals to economically empower them. “TIDAL sets a high standard for supporting artists, capturing music culture, and delivering the best audio quality to fans,” he said in a press statement. This partnership will be a game-changer for many.”Īccording to a Billboard interview with Dorogusker, he claims Tidal’s focus will be put on creating new tools to support artists throughout their careers, as well as expanding on Tidal’s growing core music streaming business. This shared vision makes me even more excited to join the Square board. Jack and I have had many discussions about Tidal’s endless possibilities that have made me even more inspired about its future. “Artists deserve better tools to assist them in their creative journey. “I said from the beginning that Tidal was about more than just streaming music, and six years later, it has remained a platform that supports artists at every point in their careers,” Jay-Z said in a statement to Billboard. The idea for this joint venture is to regain trust with artists and support them in a way that allows them to benefit from their own work and expand their opportunities. The sale is now considered a coup for Jay-Z, who restarted the company back in 2015 after buying Tidal’s Swedish parent company Aspiro for $56 million. The streaming service also landed in some legal trouble over claims of false advertising around exclusive releases to a $3 million dispute between itself and then artist shareholder Kanye West. I look forward to all this new chapter has to offer!Īccording to Billboard, Tidal - which launched six years ago - got off to a rocky start when a handful of the world’s richest artists came forward and said they were being underpaid for their music. We see millions of entrepreneurs, artists, musicians in the world who are underserved.This partnership will be a game-changer for many. “That could be more about creating new markets like Square did in the early days, we were serving customers that were largely underserved and created a market. “We’re especially interested in creating new adjacent opportunities in service of the whole artist experience and their experience with their fans in addition to the streaming service,” Dorogusker said. In an interview with Billboard after the acquisition was announced last month, Dorogusker said that while the core streaming service would remain an important part of Tidal, Square wants to expand Tidal to fully serve artists across the board.
He previously lead the development of the ubiquitous Square Reader and lead the team that launched Apple’s lightning connector during his time at the tech company. Square will soon begin its search for a permanent head of Tidal, but Dorogusker should provide a stable hand to lead the streaming service forward. Square Is Acquiring a Majority Stake in Tidal for $297M
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