Matthew Harrison

What's Tidal? It's a subscription-based, music streaming service that distributes audio, music videos and editorial to subscribers for roughly $10-$20 monthly, depending on the subscription package. Most people first heard of Tidal when it exclusively debuted Beyonce's 2016 mega-hit, Lemonade.


What's in the deal? According to Sprint:

  • TIDAL and its artists will deliver exclusive content to help Sprint acquire new customers and reward current customers
  • Sprint will make TIDAL available to its 45 million post and prepaid customers
  • Sprint CEO Marcelo Claure will join TIDAL's Board of Directors

How much did it cost? Per Billboard, Sprint paid around $200 million for the stake and also agreed pay an additional $75 million to create a "dedicated marketing fund," for artist initiatives and exclusives going forward.

What's in it for Jay-Z? It's not a great time to be in the music streaming business, unless you're Spotify or Apple Music, which have 40 million and 20 million subscribers, respectively. Jay-Z's Tidal lags far behind both streaming giants with three million reported subscribers, and some say that number may be inflated. Tidal also reported major losses in 2015 and tried unsuccessfully to sell the service to Apple in 2016. Jay-Z himself also admitted that Tidal paid the highest royalty service to record labels, and that's without a free model that other streaming services offer.

What's in it for Sprint? The telecomm giant is lagging far behind its competitors in subscribers. According to Barron's, its unlimited data offering, which differentiates Sprint from Verizon and AT&T, supports streaming services like Tidal, and could help Sprint allure new customers and retain existing subscribers.

Source: Strategy Analytics via FierceWireless

Go deeper

Trump commutes Roger Stone's sentence

Roger Stone arriving at his sentencing hearing on Feb. 20. Photo: Drew Angerer/Getty Images

President Trump on Friday evening commuted the sentence of his longtime associate Roger Stone, according to two senior administration officials. Stone in February was sentenced to 40 months in prison for crimes including obstruction, witness tampering and making false statements to Congress.

Why it matters: The controversial move brings an abrupt end to the possibility of Stone spending time behind bars. He had been scheduled to report to prison on July 14.

Updated 10 hours ago - Health

Which states have set single-day coronavirus records this week

Data: COVID Tracking Project and state health department data compiled by Axios; Map: Danielle Alberti and Naema Ahmed/Axios

13 states this week surpassed records set just last week for their highest number of coronavirus infections in a single day, according to the COVID Tracking Project and state health department data. 16 states in total reported new highs.

The big picture: The United States' alarming rise in coronavirus cases isn't just due to increased testing — particularly where the number of cases has grown fastest over the last month, Axios' Andrew Witherspoon and Caitlin Owens report.

Updated 10 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 6:30 p.m. ET: 12,389,660 — Total deaths: 557,279 — Total recoveries — 6,830,596Map.
  2. U.S.: Total confirmed cases as of 6:30 p.m. ET: 3,169,611 — Total deaths: 133,885 — Total recoveries: 983,185 — Total tested: 38,856,341Map.
  3. Public health: The reality of the coronavirus bites.
  4. Trade: Trump says he's no longer considering phase-two trade deal with China because the pandemic damaged the two countries' relationship.
  5. 🎧 Podcast: Rural America has its own coronavirus problem.