It’s still 2020 people, so I’ll believe anything. However, after learning that Square, the digital payment processor, is reportedly negotiating to buy Tidal, the music streaming service, I felt the world was getting Actually strange. At first glance, this is a strange pair, but after thinking about it for a long time, I can like Check it out
A report in Bloomberg This week states that Square CEO Jack Dorsey, who is also the CEO of Twitter, has spoken with Jay-Z about purchasing Tidal acquired in 2015, in an effort to diversify into the digital payments company . The outlet, which cited an anonymous source familiar with the situation, said the negotiations could not lead to a transaction.
Tide describes herself as one Artist-owned streaming platform, And is counted among nearly two dozen high-profile bosses, including Jay-Z, Beyoncé, Calvin Harris, Coldplay, Kanye West, Madonna, and Nicki Minaj.
According to Bloomberg, Dorsey aspired to build the square into a company made up of “stand-alone, complementary services”. category Already offers Its vendors offer a variety of different products and services, ranging from online store and delivery services to point-of-sale hardware and marketing.
Now see, all those services make sense for digital payment processors. I can see that a Square seller who uses the company’s point-of-sale hardware and online stores may also be interested in its marketing offerings. But it is not immediately clear how the music streaming service fits into all of that.
After going through my mind again and again, one of them In college Suitable One of the things I came up with – and please let me know if you all have any more ideas – was that Tidal Acquisition could potentially make it easier for Square vendors to play music in their installations. (Obviously it is No Just as easy as pressing play, you guessed it, Copyright).
Another thing that crossed my mind was that acquiring Square Sellers could offer their (socially distant) customers experiences like free concerts through streaming. according to this Linkedin page, Tidal has performed more than 120 concerts since its inception. Bloomberg said that it also offered other experiences such as streaming Rihanna’s Summer Fenty / Puma Collection In 2016. This might be a good proposition given that we are still in a global epidemic and it is unlikely that we may be able to go to concerts, fashion shows, or other events like we ever used to.
Whether any of those possibilities, or any other, is unknown. In addition to reporting on the existence of negotiations, the Bloomberg report did not include many additional details.
Finding a new purpose in life would probably be good for Tidal, who has struggled to compete against Spotify and Apple Music. The last time it reported the number of its paying customers was in 2016, it was only three million. In comparison, Spotify said it had 144 million paying subscribers This past september. Apple, for its part, which last reported paying subscribers for its service in 2019, reported that it was more than that 60 million.
While it is still unclear whether Square and Tidal will finally join, pictures of Dorsey and Jay-Z in recent months Hampton in august And then on the beach airy– Suddenly take on a completely different meaning.