{"id":85237,"date":"2021-05-06T16:00:00","date_gmt":"2021-05-06T15:00:00","guid":{"rendered":"https:\/\/routenote.com\/blog\/?p=85237"},"modified":"2021-05-06T15:25:27","modified_gmt":"2021-05-06T14:25:27","slug":"squares-stake-in-tidal-finalized","status":"publish","type":"post","link":"https:\/\/routenote.com\/blog\/squares-stake-in-tidal-finalized\/","title":{"rendered":"Square’s 80% stake in Jay-Z’s TIDAL has been finalized for $302 million"},"content":{"rendered":"\n

Image Credit: <\/em>Jay-Z<\/a><\/em><\/p>\n\n\n\n

Square’s majority stake along with the artist co-owners’ 20% stake, value the music streaming service at around $377.5 million.<\/span><\/h4>\n\n\n\n

Digital payments company Square’s CEO Jack Dorsey and TIDAL owner Jay-Z confirmed the deal worth $297 million in March earlier this year.<\/a> This news and another deal for rapper Shawn \u2018Jay-Z\u2019 Carter, saw his net worth jump by 40% up to around $1.4 billion.<\/a><\/p>\n\n\n\n

The 80% sale was finalized last week for $302 million. More than 5 times the $56.2 million Jay-Z paid for TIDAL (then WiMP) in 2015. However this most recent valuation at roughly $377.5 million, is around half the $600 million enterprise valuation achieved in 2017, when Sprint acquired a 33% minority stake for $200 million.<\/p>\n\n\n\n

The remaining 20% stake will be held by the existing artist co-owners,<\/a> including: Alicia Keys<\/strong>, Arcade Fire\u2019s Win Butler<\/strong> and Regine Chassagne<\/strong>, Beyonc\u00e9<\/strong>, Calvin Harris<\/strong>, Coldplay\u2019s Chris Martin<\/strong>, Daft Punk<\/strong>, Damian Marley<\/strong>, deadmau5<\/strong>, Indochine<\/strong>, J. Cole<\/strong>, Jack White<\/strong>, Jason Aldean<\/strong>, Kanye West<\/strong>, Lil Wayne<\/strong>, Madonna<\/strong>, Nicki Minaj<\/strong>, Rihanna<\/strong>, T.I.<\/strong> and Usher<\/strong>. According to TMZ, following the acquisition, Jay-Z and Roc Nation CEO Desiree Perez will stay on the TIDAL board.<\/p>\n\n\n\n

TIDAL’s previous parent company Project Panther Bidco’s latest financial filing reveal the streaming platform generated $166.9 million in 2019, up 26.4% YoY, which represents an operating loss in 2019 of $55.3 million.<\/p>\n\n\n\n

\n\n\n\n

This news comes as TIDAL publish a new advert, claiming the streaming service pays out 4 times more than its competition.<\/p>\n\n\n\n

\"TIDAL
Image Credit: TIDAL<\/a><\/em><\/figcaption><\/figure><\/div>\n\n\n\n

Don’t take this claim at face value. According to The Trichordist\u2019s<\/a> stats published in March last year, TIDAL’s pay-per-stream rate was higher than most, at roughly $0.00876, while competition from Spotify for example was at $0.00348. This is misleading, as TIDAL does not offer a free tier, so naturally their payout averages significantly higher. TIDAL’s Average Revenue Per User (ARPU) is also higher due to their HiFi tier, which costs $19.99, rather than the $9.99 of their base level Premium tier. When compared to other premium-only music streaming services such as Apple Music, their payout closely lines up with these rivals. Apple Music recently said in an open letter, they pay artists an average of 1 cent per stream.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Sqaure’s majority stake along with the artist co-owners’ 20% stake, value the music streaming service at around $377.5 million.<\/p>\n","protected":false},"author":9,"featured_media":85239,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[43,88,25617,20617,446,1020,12114,25625,134,23555,20614,7402,9789,5473,25623],"acf":[],"yoast_head":"\nSquare's 80% stake in Jay-Z's TIDAL has been finalized for $302 million - RouteNote Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/routenote.com\/blog\/squares-stake-in-tidal-finalized\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Square's 80% stake in Jay-Z's TIDAL has been finalized for $302 million - RouteNote Blog\" \/>\n<meta property=\"og:description\" content=\"Sqaure's majority stake along with the artist co-owners' 20% stake, value the music streaming service at around $377.5 million.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/routenote.com\/blog\/squares-stake-in-tidal-finalized\/\" \/>\n<meta property=\"og:site_name\" content=\"RouteNote Blog\" \/>\n<meta property=\"article:published_time\" content=\"2021-05-06T15:00:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-05-06T14:25:27+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/routenote.com\/blog\/wp-content\/uploads\/2021\/05\/Jay-Z.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Tom Newman\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Organization\",\"@id\":\"https:\/\/routenote.com\/blog\/#organization\",\"name\":\"RouteNote\",\"url\":\"https:\/\/routenote.com\/blog\/\",\"sameAs\":[],\"logo\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/routenote.com\/blog\/#logo\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/routenote.com\/blog\/wp-content\/uploads\/2020\/11\/routenote-logo.jpg\",\"contentUrl\":\"https:\/\/routenote.com\/blog\/wp-content\/uploads\/2020\/11\/routenote-logo.jpg\",\"width\":1000,\"height\":1000,\"caption\":\"RouteNote\"},\"image\":{\"@id\":\"https:\/\/routenote.com\/blog\/#logo\"}},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/routenote.com\/blog\/#website\",\"url\":\"https:\/\/routenote.com\/blog\/\",\"name\":\"RouteNote Blog\",\"description\":\"The World of Digital Music - 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