TidalвЂ™s streaming service offers more than 70 million songs and 250,000 high-quality videos in its catalog along with original video series, podcasts, playlists and artist discovery via Tidal Rising. вЂњTogether, Tidal and Square will be music-obsessed and artist-focused while we explore new artist tools, listener experiences, and access to financial systems that help artists be successful,вЂќ Dorogusker said. The rumored sale may have something to do with why. Tidal will be led on an interim basis by Jesse Dorogusker, currently head of hardware at Square. Dorsey and Jay Z have reportedly discussed a possible sale, but it is unclear if the alleged negotiations will actually result in an acquisition. Last month the two formed a Bitcoin fund focused on developing the cryptocurrencyвЂ™s adoption, initially in Africa and India. Jay-Z and Dorsey have become chummy over the years, and last summer were seen together aboard a yacht in the Hamptons. вЂњI knew Tidal was something special as soon as I experienced it, and it will continue to be the best home for music, musicians and culture.вЂќ вЂњNew ideas are found at intersections, and we believe thereвЂ™s a compelling one between music and the economy,вЂќ Dorsey said in a statement. He added that he and Dorsey вЂњhave had many discussions about TidalвЂ™s endless possibilities that have made me even more inspired about its future.вЂќДЄccording to Dorsey, who is CEO of both Square and Twitter, the deal вЂњcomes down to one simple idea: finding new ways for artists to support their work.вЂќ Artists deserve better tools to assist them in their creative journey.вЂќ Jay-Z tweeted about the pact Thursday, вЂњI 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. One of TidalвЂ™s differentiators has been its high-fidelity audio offering Spotify plans to launch its own hi-fi tier later in 2021. Tidal, which hasnвЂ™t disclosed subscriber numbers, has managed to hang on in the streaming game amid competition from huge rivals like Apple Music and Spotify. Other Tidal artist-owners include BeyoncГ©, Alicia Keys, ColdplayвЂ™s Chris Martin, Kanye West, Madonna, Nicki Minaj and Rihanna. Artists deserve better tools to assist them in their creative journey.In 2015, Jay-Z led a consortium of artists in a $56 million deal to acquire Norwegian streaming company Aspiro. 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 bought Tidal for roughly 56 million in 2015 but itвЂ™s the Hard Knock Life for Apple Inc who was in talks to buy Tidal to boost its Apple Music service, according to a Wall Street Journal report in June. this shared vision makes me even more excited to join the Square board,вЂќ he said. вЂњOur many discussions about TIDALвЂ™s endless possibilities have made me even more inspired about its futureвЂ¦. Meanwhile, Jay also declared on Twitter at the time that Dorsey was вЂњone of the greatest minds of our timeвЂќ. Why would a music streaming company and a financial services company join forces?! Square is acquiring a majority ownership stake in TIDAL through a new joint venture, with the original artists becoming the second largest group of shareholders, and JAY-Z joining the Square board. Making the economy work for artists is similar to what Square has done for sellers,вЂќ he continued. New ideas are found at the intersections, and we believe thereвЂ™s a compelling one between music and the economy. вЂњIt comes down to a simple idea: вЂњfinding new ways for artists to support their work. вЂњWhy would a music streaming company and a financial services company join forces? The real reason is to spot вЂњnew ways for artists to support their work, he said. As reported by the New York Times, Jay bought back the shares from T-Mobile in March, prior to DorseyвЂ™s acquisition.Д«ack in March, Jack Dorsey took to Twitter to explain his decision to buy the stake from Jay-Z.

Jay z sells tidal