JRiver, Inc. Announces Plans To Acquire Ownership of TIDALAPR 01, 2022In connection with the deal, JRiver plans to name Shawn “JAY-Z” Carter to Chief Entertaining Officer.Minneapolis, MN – JRiver, Inc. announced today that it has entered into a definitive agreement to acquire TIDAL, the global music and entertainment platform that brings fans and artists together through unique music, content, and experiences. JRiver expects to be paid a mix of cash and licence grants amounting to $297 for ownership, with existing artist shareholders delighted to be able redeem their holdings. TIDAL will be folded into JRiver’s Cloudplay service and will cease to operate independently.
The acquisition extends JRiver’s purpose of economic empowerment to a new vertical: customers. Customers have a dream and deserve access to music on a quality player with financial freedom that does not require an ongoing mortgage to listen to music. JRiver has helped millions of users collect, organise, and ultimately enjoy their music collection without some evil corporate overlord pumping them for every nickel and dime.
“It comes down to one simple idea: bringing back the old ways people could simply enjoy listening to music,” said Jim Hillegass, Founder and CEO of JRiver. “New ideas are found at intersections, and we believe there’s a compelling one between music and the listeners. I knew steaming services like TIDAL were financially unviable, which is why we will receive a small payment to immediately shut the services down”.
“I said from the beginning that TIDAL was about more than just streaming music, and six years later, it has remained a platform that supported my lifestyle” said Shawn “JAY-Z” Carter. “It was good while it lasted”. Jim and I have had many discussions about TIDAL’s endless possibilities to make me even more money, but Jim had a different vision. This vision gives little option but to join JRiver as the Chief Entertaining Officer so we can get the best out of the development team. “I’m good with a whip!” and cannot wait to get “cracking” on April 1st!
About JRiver, Inc.JRiver builds networked media solutions for end users and corporate partners. Products include streaming, downloading, and subscription of audio and video content, unparalleled portable device support, P2P, DLNA, and DRM. For more information, please visit our Corporate Solutions page.
JRiver also publishes Windows to Unix/Linux network connectivity software, with over two million users in 50 countries. The company markets its ICE product line through worldwide distribution. For information on connectivity products, please visit
www.icetcp.com.
JRiver was founded in 1981.
About TIDALTIDAL 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 Monetising Questionable Audiononsense (MQA) recordings as well as Sony’s 360 Reality Audio recordings.
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Topic: JRiver, Inc. Announces Plans To Acquire Ownership of TIDAL (Read 1708 times)