Jay-Z Sells Majority Stake In Tidal Streaming Service

Jack Dorsey's digital payment company, Square is acquiring a majority ownership stake in music streaming service, Tidal. Bought by hip-hop icon, Jay -Z, in 2015 for $56 million, Tidal aimed to give music artists more control of their art and career. Recently, the music platform has struggled to compete with other music streaming services such as Spotify and Apple Music, although Square has said it doesn’t expect Tidal’s financial results to have a material impact on Square’s consolidated revenue or gross profit in 2021.