But Jay Z, whose real name is Shawn Carter, found a lifeline through a deal announced on Monday in which Sprint will buy a one-third stake in the service for an undisclosed amount.
– It looks like a good day for Jay-Z: Sprint is buying a 33% stake in his music-streaming service, Tidal. Billboard reports the deal was for $200 million. Under the terms, Jay-Z and other big-name celebs—including Beyonce, Madonna, and Kanye West—will remain part-owners. Sprint, meanwhile, will be able to provide exclusive music to its customers. The deal may be a life-saver for Tidal, which has been struggling to compete with Apple Music, Pandora, and Spotify, reports the New York Times. Its holding company lost about $28 million in 2015. (Jay-Z maintains that having artists own the site is what sets Tidal apart.)