Since its debut, Tidal has struggled to keep up with the likes of Spotify and Apple Music. Sprint’s purchase of 33% of the streaming service will likely boost its competitiveness in the industry.
Sprint announced on Monday that the purchase will allow the carrier to offer the service, including exclusive content, to 45 million customers in the US. Although Sprint’s chief executive Marcelo Claure will join the board, Tidal will continue to be run by the artists that own it.
Jay Z made the following statement:
Sprint shares our view of revolutionizing the creative industry to allow artists to connect directly with their fans and reach their fullest, shared potential.
This is sure to boost the number of subscribers.