Now that every last tech giant is jumping into the music-streaming-service game and paying artists fractions of pennies on the dollar, maybe it makes sense for already-rich artists to try buying their own damn streaming services. And now Endgadget reports that Project Panther, a company owned by Jay Z’s S. Carter Enterprises, has made a bid on the company behind the Scandinavian streaming service Tidal. The company’s reviewing board is already recommending that shareholders take Jay up on his offer, which is worth about $56 million.
Aspiro, the company behind Tidal, already has a similar streaming service called WiMP, but the buzz seems to be with the higher-fidelity Tidal, perhaps because no American wants to use a fucking service called WiMP. That sounds like an SNL joke, but it’s real. The lossless Tidal service just recently launched in the US and UK, but the intention is clearly to come up with something that can compete with services like Spotify. After all, Jay just watched Dr. Dre become rap’s first billionaire, largely on the strength of Apple buying his Beats Music streaming service. You already know Jay wants in on that.
But can Jay possibly hope to compete with Father John Misty’s streaming service?