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For some reason, Square is reportedly watching the tide

Jay-Z purchased the music streaming service Tidal in 201[ads1]5.  Jay-Z purchased the music streaming service Tidal in 2015.
photo: Jamie McCarthy (Getty Images)

It is still the people of 2020, so I will believe everything.However, it is reported that after the digital payment processor Square is discussing the purchase of music streaming service Tidal, I think the world is becoming more and more true Strange.At first glance, this is a strange pairing, but after thinking about it for a long time, I can Kind of see.

Report in Bloomberg This week it was stated that Square CEO Jack Dorsey (Jack Dorsey) is also the CEO of Twitter (Twitter) and has discussed the acquisition of Tidal with Jay-Z. Chaochao was acquired by the artist in 2015 to diversify digital payment companies. The media quoted a person familiar with the matter who asked not to be named as saying that the negotiations may not reach a deal.

Tide describes itself as Streaming platform owned by artists, And has nearly twenty well-known owners, including Jay-Z, Beyoncé, Calvin Harris, Coldplay, Kanye West, Madonna and Nicky Minagi, etc.

According to a Bloomberg report, Dorsey is eager to build Square into a company composed of “independent supplementary services.”square Already provided Its sellers offer a variety of different products and services, from online stores and delivery services to point-of-sale hardware and marketing.

Now see that all these services are meaningful for digital payment processors. I can see that Square sellers who use the company’s point-of-sale hardware and online store may also be interested in its marketing products. But it is not clear how music streaming services fit all of these.

After discussing this idea repeatedly in my mind, as long as reasonable The thing that comes to my mind is-the acquisition of Tidal may make it easier for Square sellers to play music on their premises, and please let me know if there are other ideas. (Obviously, this is Do not It’s as easy as pressing play, because you guessed it, copyright).

Another thing that comes to my mind is that this acquisition will allow Square sellers to offer experiences such as free concerts by streaming to their (far away) customers.According to its LinkedIn PageSince its establishment, Tidal has broadcast live 120 concerts.Bloomberg stressed that it also provides other experiences, such as streaming Rihanna’s summer Fenty / Puma series Considering that we are still in a global pandemic and we are unlikely to be able to attend concerts, fashion shows or other past events anytime soon, this may be a good choice in 2016.

Whether these possibilities are on the table is still unknown. The Bloomberg report did not include many other details besides reporting the existence of the talks.

Finding new goals in life may be beneficial to Tidal, which has been struggling to compete with Spotify and Apple Music. The last time the number of paying users was reported was in 2016. three million.In contrast, Spotify says it has 144 million paying users Past nine months.For Apple, the most recent report was for subscribers who paid for its services in 2019. Sixty million.

Although it is not clear whether Square and Tidal will eventually come together, photos of Dorsey and Jay-Z in recent months- Hampton in August Then on the beach HawaiiSuddenly it has a completely different meaning.


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