Tidal’s Value Increases Nearly $200M… Already!

Jay Z completed his acquisition of Swedish music streaming company Aspiro in March, paying out $56 million. Now, just weeks after his bid was accepted, Aspiro is valued at $250 million.  Sprint, and its parent company Softbank, have invested in Aspiro, and owns a minority stake in the company.  Jay Z relaunched Aspiro’s main streaming site, Tidal, at a star-studded event in New York.  He was joined on stage by a collection of the biggest names in music, including Beyoncé, Kanye West, Daft Punk, Jack White. Madonna, Alicia Keys and more.  It looks like Jay Z’s star power has paid off, as Aspiro is now reportedly valued at around $250 million.  Tidal has gained 100,000 paying subscribers since the New York press conference. It had just 35,000 suscribers before the Jay Z acquisition.  Sprint is partnering with Tidal to bring the streaming services to phones using the network. It sounds like Sprint is going to bundle a Tidal subscription in with the cost of a phone contract.