In connection with the deal, Square plans to name Shawn “JAY-Z” Carter to Board of Directors
SAN FRANCISCO, CA – Square, Inc. (NYSE: SQ) announced today that it has entered into a definitive agreement to acquire a majority ownership stake in TIDAL, the global music and entertainment platform that brings fans and artists together through unique music, content, and experiences. Square expects to pay a mix of cash and stock of $297 million for a significant majority ownership stake, and existing artist shareholders will be the remaining stakeholders. TIDAL will operate independently within Square, alongside the Seller and Cash App ecosystems.
The acquisition extends Square’s purpose of economic empowerment to a new vertical: musicians. Artists are entrepreneurs with a dream and deserve access to systems, tools, and financial freedom to reach those dreams at every stage in their career. Square has helped millions of businesses start, run, and grow by providing them with tools needed for success. With Cash App, Square has made financial services more relatable and accessible to millions of customers, many of whom have been historically overlooked and underserved. Square sees an opportunity to leverage those learnings to help musicians find new ways to support their work and make better decisions through TIDAL.
Tidal Volume
- Tidal has been riding an encouraging wave of momentum since its celebrity-studded re-launch in March 2015 – not least because, in 2017, it became the first service to offer hi-res audio streaming thanks to its adoption of MQA technology. These hi-res (typically 24-bit/96kHz) tracks, which it calls.
- Tidal (stylized as TIDAL) is a Norwegian subscription-based music, podcast and video streaming service that offers audio and music videos. Tidal was launched in 2014 by Norwegian public company Aspiro and is now majority-owned by Square, an American payment processing company.
- Tidal is a music streaming service that prides itself with the highest sound quality on the market right now. This is accompanied by HD music videos and Curated Editorial by music journalists, artists and experts.
“It comes down to one simple idea: finding new ways for artists to support their work,” said Jack Dorsey, cofounder and CEO of Square. “New ideas are found at intersections, and we believe there’s a compelling one between music and the economy. I knew TIDAL was something special as soon as I experienced it, and it will continue to be the best home for music, musicians, and culture.”
TIDAL X is a program that connects artists directly with fans by giving them a platform to engage with them in unique ways, including one-of-a-kind live shows, events, artist meet & greets and concert tickets for TIDAL members to enjoy.
“I said from the beginning that TIDAL was about more than just streaming music, and six years later, it has remained a platform that supports artists at every point in their careers,” said Shawn “JAY-Z” Carter. “Artists deserve better tools to assist them in their creative journey. Jack and I have had many discussions about TIDAL’s endless possibilities that have made me even more inspired about its future. This shared vision makes me even more excited to join the Square board. This partnership will be a game-changer for many. I look forward to all this new chapter has to offer!”
TIDAL is the only music service built by artists, for artists—which is now more important than ever as consumers look for authentic digital connections with their favorite artists. TIDAL offers the premier listening experience, with superior sound quality and an extensive catalog of more than 70 million songs and 250,000 high-quality videos. TIDAL puts the fan experience at the center of every decision, providing artists direct access to their audience and allowing fans deeper connections to their favorite artists through original, exclusive, and curated content and events. TIDAL has a global presence with listeners in more than 56 countries and relationships with more than 100 labels and distributors.
“TIDAL sets a high standard for supporting artists, capturing music culture, and delivering the best audio quality to fans,” said Jesse Dorogusker, a Square executive who will serve as interim lead of TIDAL upon the closing of the transaction. “Square has also set a high standard for building elegant, accessible, and fair tools for sellers and individuals to economically empower them. Together, TIDAL and Square will be music-obsessed and artist-focused while we explore new artist tools, listener experiences, and access to financial systems that help artists be successful.”
TIDAL board member and shareholder Shawn “JAY-Z” Carter is expected to join Square’s Board of Directors subject to the closing of the transaction. A distinguished and acclaimed artist, businessman, and philanthropist, Carter founded preeminent entertainment company Roc Nation and sports agency Roc Nation Sports, launched and owns the successful “Made In America” festival, and executive-produced award-winning documentaries, among other achievements. Over the years, Carter has remained relentlessly committed to giving back to underserved communities, including through his work with the Shawn Carter Foundation and The REFORM Alliance.
Fred bear bow serial number lookup. In addition to JAY-Z, all of TIDAL’s artist shareholders will continue to be co-owners of TIDAL after the deal closes.
Based on current information, Square does not expect TIDAL’s financial results to have a material impact on Square’s consolidated revenue or gross profit in 2021. The completion of this transaction is subject to customary closing conditions including regulatory approvals. The parties expect to close the transaction in the second quarter of 2021. Square was primarily advised by Gibson, Dunn & Crutcher LLP as legal advisors and TIDAL was advised by Reed Smith LLP and Cummings & Lockwood LLC as legal advisors.
About Square, Inc.
Square, Inc. (NYSE: SQ) builds tools to empower businesses and individuals to participate in the economy. Sellers use Square to reach buyers online and in person, manage their business, and access financing. And individuals use Cash App to spend, send, store, and invest money. Square has offices in the United States, Canada, Japan, Australia, Ireland, Spain, and the UK.
Tidal Wave
About TIDAL
TIDAL is an artist-led global music and entertainment platform that brings artists and fans closer together through unique original content and exclusive events.
Available in 56 countries, the streaming service has more than 70 million songs and 250,000 high-quality videos in its catalog along with original video series, podcasts, thousands of expertly curated playlists and artist discovery via TIDAL Rising. With the commitment of its owners to create a more sustainable model for the music industry, TIDAL is available in premium and HiFi tiers—which includes Master Quality Authenticated (MQA) recordings as well as Sony’s 360 Reality Audio recordings.
Jumpstart wpswpspin 2014. Media Contact:
press@squareup.com
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact could be deemed forward-looking, including, but not limited to, statements regarding the proposed acquisition of TIDAL by Square (the “Company”) and the timing to close the acquisition; the future performance of the Company and TIDAL; the perceived benefits of the acquisition; expectations around the financial impact of the acquisition on the Company’s financials; and the Company’s expectations regarding scale, economics, and the demand for or benefits from its current and future products, product features, and services. Such statements are subject to a number of known and unknown risks, uncertainties, assumptions, and other factors that may cause the Company’s actual results, performance, or achievements to differ materially from results expressed or implied in this press release, and reported results should not be considered as an indication of future performance. Investors are cautioned not to place undue reliance on these statements.
Risks that contribute to the uncertain nature of the forward-looking statements include, among others, the possibility that the transaction will not close or that the closing may be delayed; the ability to secure required regulatory approvals or otherwise satisfy other closing conditions in a timely manner, or at all; the proposed transaction may not advance the parties’ business strategies; the ability of the company to retain the artists and customers of TIDAL; the ability to realize the expected benefits from the transaction in the expected time period, or at all; disruptions from the transaction on ongoing operations; potentially incurring significant transaction costs; the Company’s ability to execute a new business vertical and integrate TIDAL’s products; and unknown, underestimated, or undisclosed commitments or liabilities, as well as other risks listed or described from time to time in the Company’s filings with the Securities and Exchange Commission (“SEC”), including the Company’s most recently filed Annual Report on Form 10-K which is on file with the SEC and available on the investor relations page of the Company’s website. All forward-looking statements are based on information and estimates available to the Company at the time of this press release and are not guarantees of future performance. Except as required by law, the Company assumes no obligation to update any of the statements in this press release.
Part 1. Download Music from Tidal to Computer via Downloading Way
How to enjoy lossless CD-quality of Tidal music on PC if there is a poor Internet connection? The most ideal way would be downloading Tidal music to computer for offline playback. So here, we are going to share with you how to let Tidal download music to PC or Mac using a smart Tidal downloader.
Tidal Music
Tool Needed: Best Tidal Downloader on Mac/Windows
AudFree Tidal Music Downloader is a flagship product developed by AudFree. It is well-designed to help Tidal subscribers download music from Tidal to computer. At the same time, it will save Tidal music downloads in common audio formats.
This excellent tool can run at high speed to download and convert Tidal to MP3, FLAC, WAV, AAC, M4A, and M4B without losing any audio quality. Besides, it is intelligent enough to detect all metadata such as title, artist, genre, album art of the music automatically. And, it can keep them within the output music files losslessly.
With the help of this all-in-one AudFree Tidal music converter, it opens up more possibilities to enjoy Tidal music in plain format on any device. Moreover, you can keep Tidal music forever even if you cancel your Tidal Premium or HiFi subscription. AudFree Tidal Music Downloader now offers a free trial for both Windows and Mac users to fully explore its various functions.
AudFree Tidal Music Downloader
- Losslessly download Tidal playlist/music/album on Mac/PC
- Convert Tidal to FLAC, MP3, AAC, WAV, etc. on computer
- Work at 5X speed while converting Tidal songs
- Support to customize other audio parameters
How to Download Music from Tidal to Computer
Tidal Raves
Before getting started, there is some preparation work you need to do. Please make sure you have downloaded and installed the right version of AudFree Tidal Music Downloader on your computer.
Tidal Music Streaming
With the new release of this tool, it comes with a built-in Tidal Web Player. It enables you to access Tidal music directly, so you don't need to install the Tidal desktop app anymore. Now, let's see how to download Tidal music to computer easily.
- Step 1Set Tidal music output format for download
- Launch the AudFree Tidal Music Downloader on desktop, you will see the main interface built-in Tidal Web Player. Go to Menu from the top-right corner and select 'Preferences' > 'Convert' section. Here, you get to select your ideal output format for Tidal music download.
- You can also customize other audio parameters including bit rate, sample rate, and audio channel. If you choose to download FLAC from Tidal, you get to select the bit depth between 16 bit and 24 bit.
- Step 2Add music from Tidal to AudFree
- This Tidal music downloader provides a simple and easy way to load Tidal playlists. Please find the Tidal songs, albums, playlists that you wish to download from Tidal to computer within the Tidal player. Tap this item, and then the gray '+' button will be blue. It means that Tidal songs are ready for adding. Click the '+' button, and you can select certain Tidal songs for download.
- Step 3Download Tidal music on PC/Mac
- When all the settings are saved, please click the 'Convert' button to start the downloading process at a high speed. After that, you can open the converted list. It's able to locate your downloaded Tidal music files in the output folder on your computer.
- Video TutorialHow to Download Music from Tidal
- Here is a video tutorial that can help you learn how to download from Tidal more clearly. Following every step in this tutorial, and you have no problem getting offline Tidal.