I’M A BUSINESS MAN!
Jay Z’s story is truly remarkable. All his life things have not been easy for him. The music mogul went from slinging rocks in Brooklyn’s notorious Marcy projects to arguably America’s business man of the year.
Jigga bought into the music streaming business a little over a year ago. And now some of the biggest companies in America are looking at Tidal profits like a fat kid looking at a cake…chocolate cake no doubt.
Jay Z completed his acquisition of Swedish music streaming company Aspiro in March 2014, paying out $56 million. Now, it’s unknown what the current value is but in April 2015 the New York Post valued the company at $250 million. Since that time Tidal has more than tripled its subscribers from 1 million to 4.2 million subscribers.
This all happened in a hostile business environment where Apple and Google were accused of a smear campaign. At the same time Tidal’s top executives were dropping like dominoes.
Now Tidal’s profits numbers are looking so good that even Apple is said to want, not just a piece of the cake, but the whole cake.
If this happens Jay Z will join Dr.Dre and former Interscope records president Jimmy Lovine as Apple senior executives. How dope would that be?
In 2014 Apple paid 3 billion dollars for Dr.Dre’s Beats headphones and got the money right back on the back end as Apple’s stock prices rose.
No doubt Apple may be licking their chops at a similar move but they might be in for a biding war as their arch nemesis Samsung, has a better relationship with Jay Z.
Samsung have supported the music mogul on many projects, including the exclusive Magna Carter Album where they bought the first million copies and gave them away for free to their cellphone customers. Plus, Jay Z negotiated a deal for Rihanna in which Samsung dropped $25 million to sponsor Rihanna’s Anti Tour.
It’s highly unlikely that Samsung will risk looking weak by allowing their arch nemesis Apple to just come in between a vested business relationship and buy Tidal without a bidding war.