Earlier this year we reported that Jay Z wanted to purchase the Music streaming company Aspiro, and now its official!! Jay Z will be competing with Spotify and Apple! Jay Z will need his superstar friends to join him with this music streaming venture, so they can all capitalize a bigger profit.
On Friday, the $56 million bid for the Swedish technology company Aspiro announced that it had acquired enough of Aspiro’s shares to take over the company. Aspiro, which is publicly traded in Sweden, operates subscription streaming services under the brands WiMP and Tidal, which entered the United States market last fall.
Jay Z, whose real name is Shawn Carter, made his offer for Aspiro in late January through an entity he controls, Project Panther Bidco.
Aspiro is one of a small but quickly growing online music companies. Jay Z has not revealed further plans for Aspiro, but I would only imagine headphones and audio devices next. Jay Z just a genius from Brooklyn!!
According to Global14, Jay Z met with Madonna, Kanye West, Rihanna, Daft Punk, Chris Martin, Beyoncé a few days before the Grammy Awards in February 2015. The meeting was to discuss his new venture with music streaming company Aspiro — which will be known in the U.S. as TidalHifi (@tidalhifi) when it relaunches, and artists would actually profit from their art and put out quality material. Madonna isn’t signed to a record label per se, G14 reports. But most of these people are signed to Universal Music Group, which owns Vevo video service with Sony and Google. Plus. But the endless battles between artists and Spotify and other digital services that pay low royalties- Jay Z and his new music streaming company may be the answer where artist make more- and own more…