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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.

Giphy

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

40 mins ago - World

Putin foe Navalny to be detained for 30 days after returning to Moscow

Russian opposition leader Alexey Navalny. Photo: Oleg Nikishin/Epsilon/Getty Images

Russian opposition leader Alexey Navalny has been ordered to remain in pre-trial detention for 30 days, following his arrest upon returning to Russia on Sunday for the first time since a failed assassination attempt last year.

Why it matters: The detention of Navalny, an anti-corruption activist and the most prominent domestic critic of Russian President Vladimir Putin, has already set off a chorus of condemnations from leaders in Europe and the U.S.

Biden picks Warren allies to lead SEC, CFPB

Photo: Justin Sullivan/Getty Images

President-elect Joe Biden has selected FTC commissioner Rohit Chopra to be the next director of the Consumer Financial Protection Bureau (CFPB) and Obama-era Wall Street regulator Gary Gensler to lead the Securities and Exchange Commission (SEC).

Why it matters: Both picks are progressive allies of Sen. Elizabeth Warren (D-Mass.) and viewed as likely to take aggressive steps to regulate big business.

The perils of organizing underground

Illustration: Aïda Amer/Axios

Researchers see one bright spot as far-right extremists turn to private and encrypted online platforms: Friction.

Between the lines: For fringe organizers, those platforms may provide more security than open social networks, but they make it harder to recruit new members.