Skip to main content

Market Overview

Square Buys Majority Ownership In Streaming Music Platform Tidal

Square Buys Majority Ownership In Streaming Music Platform Tidal

Square Inc. (NYSE: SQ) has acquired a majority ownership stake in Tidal, the global music and entertainment platform, in a $297 million cash-and-stock transaction.

What Happened: Tidal was launched in 2014 by the Norwegian company Aspiro, which was acquired by Project Panther Bidco Ltd., a British-American holding company, one year later. 

In 2017, Sprint Corp. bought 33% of Tidal for $200 million.

In a press statement, Square said its majority stake expands the company’s “purpose of economic empowerment to a new vertical: musicians.”

Tidal offers a catalog of more than 70 million songs and 250,000 videos, and it claims relationships with more than 100 labels and distributors and a listener base in 56 countries.

See also: How to Buy Square (SQ) Stock

Rapper and business executive Shawn “Jay-Z” Carter, a Tidal board member and shareholder, is expected to join Square’s board of directors after the deal closes. All of Tidal’s artist shareholders will continue as co-owners of the platform.

Why It Matters: “It comes down to one simple idea: finding new ways for artists to support their work,” said Jack Dorsey, cofounder and CEO of Square.

“New ideas are found at intersections, and we believe there’s a compelling one between music and the economy. I 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.”

Carter said artists deserve "better tools" to help in their creative journey. 

“Jack and I have had many discussions about Tidal’s endless possibilities that have made me even more inspired about its future. This shared vision makes me even more excited to join the Square board. This partnership will be a game-changer for many.”

SQ Price Action: Square shares were down 6% at $220.15 at last check Thursday. 

Shawn “Jay-Z” Carter and Jack Dorsey. Photograph courtesy of Square.


Related Articles (SQ)

View Comments and Join the Discussion!

Posted-In: Jack Dorsey jay-z music streaming TidalM&A News Best of Benzinga

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at