A Swedish website breakit today claimed that entrepreneur was considering selling Tidal. A number of music websites there picked the news up – although none in English.
We learned (using Google translate) that Daniel Roberti of MWW PR who represent Tidal sent an email in response to Breakit’s claim – saying there is nothing happening along those lines at the moment. He claimed it was a completely inaccurate story.
Tidal is a music flow service similar to Spotify or Apple Music. Jay-Z purchased Aspiro, a Swedish-Norwegian flow service, in March then combined both Wimp and Tidal together into the current version of Tidal. Since Jay-Z bought the service, they have acquired 500K new subscribers.
He’s owned the service just six months, and this is not the first time rumors of him selling have hit the news. But only recently Tidal sold out their first annual Tidal X: 1020 Amplified by HTC concert. On the heels of that success, Tidal geared up to live stream international musician C-KAN‘s performance October 29th.
The press release from Michael Kempner’s PR Firm MWW also said:
TIDAL X: 10/20 Amplified by HTC, the ultimate charity concert hosted by TIDAL, successfully raised $1,480,821.79— all of which will be donated to the TIDAL X: 10/20 fund at the New World Foundation. TIDAL raised more than $1,073,273.79 through ticket sales, with TIDAL and its partners HTC, Ticketmaster and Barclays Center contributing an additional $407,548 by donating all proceeds from ticketing fees, merchandise sales and fan contributions. (Press Release)
At this point, it doesn’t appear Jay-Z is hurting for funds on his personal Tidal wave.