Still, Tidal is a very small part of the music streaming market that is dominated by Apple, Amazon, Spotify and YouTube, and Square said it does not expect Tidal to have 'a material impact' on Square’s profits this year. The group bought it in an effort to give artists greater power over the music business. Dorsey has discussed a potential deal with Jay-Z, the rapper and music mogul who acquired Tidal for 56 million in early 2015, said the person, who asked not to be identified because the talks. Tidal, which Jay-Z, Beyonce and other artists acquired in 2015 for $56 million, offers subscribers early or exclusive access to music and products. JAY-Z has reportedly closed the deal to sell the majority of his streaming company TIDAL for 350 million to Square Inc. Jay-Z said in a statement the deal would give artists 'better tools to assist them in their creative journey.' Square will likely use Tidal to extend its financial services to musicians, enabling them to receive direct payments from fans. The two men have also spent a great deal of time with each other in recent months in locales ranging from Hawaii to the Hamptons, a source familiar with their relationship said. The deal has been widely anticipated since Bloomberg reported in December that Dorsey and Jay-Z were in talks about a deal. The Square/Tidal deal may hint at a sea change for musicians and artists (where not all that long ago they’d been at the mercy of record companies). According to TMZ, the deal was finalized late last week for a reported 302 million that gives Square 80 of the company which has a 350 million valuation. 'New ideas are found at the intersections, and we believe there’s a compelling one between music and the economy.' There are two major ways that Square can help artists monetize. There are two major implications of this deal including Square’s ability to help artists monetize and influencer marketing for Square. Some of the notable music-related NFTs include: 3LAU. In a statement from Jesse Dorogusker, TIDAL’s interim lead, he pledged access to financial systems that help artists be successful. Square can leverage Tidal to develop album NFTs. 'It comes down to a simple idea: finding new ways for artists to support their work,' he wrote. Jay wrote in a March Twitter thread about the deal.

Square tidal deal