Jay Z and Twitter honcho Jack Dorsey have reportedly been in negotiations over the sale of the global streaming service, TIDAL.
Jack Dorsey, who is also the CEO of Square Inc., the American financial services company that runs Cash App and Square Seller, is reportedly interested in purchasing TIDAL in an effort to diversify Square's business.
The negotiations for the sale of TIDAL were reported by Bloomberg News, but are yet to be confirmed by either party. However, Jay Z and Dorsey have been spotted on a few occasions in the company of others, most recently during a getaway in Hawaii last month (November).
Jay Z acquired the streaming service from Norwegian company Aspiro for $56 million back in 2015. The subscription-based music streaming company has been marketed as a better option for artists in that it offers higher royalties than competitors such as Spotify, Apple Music, and GooglePlay Music.
TIDAL stands out from other streaming services because it is artist-owned. The artist-owners include Beyonce, Rihanna, Kanye West, Nicki Minaj, Madonna, Lil Wayne, Usher, Coldplay, Daft Punk, T.I., Deadmau5, Alicia Keys, Jack White, Damian Marley, Jason Aldean, Calvin Harris, Claudia Leitte, J Cole, Indochine, and Arcade Fire's Win Bulter and Regine Chassagne.
TIDAL is currently available in more than 53 countries and brags about offering more than 70 million songs in high fidelity sound quality, and 250,000 high-definition music videos.
Listeners can choose between two subscription tiers: premium for $9.99 per month and HiFi for $19.99 per month. With the service, you are able to create playlists and download songs to your mobile device for an offline listening experience.