So in december i made a video about square potentially acquiring a music streaming company called tidal majority owned by jay z, and today they actually officially announced that square is acquiring majority stake in that company. So we’re going to go over everything we know right now. Most of them will be tweets by jack himself, i’m. Just going to share my thoughts as well, and the past video will be in the top right corner. If you want to check that out before i do so, i just want to thank everyone that has been subscribing lately, we’re on our way to 14 000 subscribers. So if you haven’t subscribed yet hit that subscribe button, if you like these videos, leave it an early thumbs up as it really helps me out, grow the channel and get my videos out there so without further ado, let’s dive into this right. So first tweet here square is acquiring a majority ownership stake entitled to a new joint venture with the original artist becoming the second largest group of shareholders and jay z, joining the square board, pretty pretty big move. If you ask me – and here comes the big question, why would a music streaming company any financial service company join forces? Well, it comes down to a simple idea: finding new ways for artists to support their work. New ideas are found at the intersections and we believe there is a compelling one between music and the economy, making the economy work for artists is similar to what square has done for sellers.
Ok, ok. I can see where this is going. He continues by saying square started 12 years ago by giving small sellers a simple tool in order to participate more fully in the economy and grow. We did the same for individuals with cash app, which now enables a comprehensive set of financial services for forks weren’t able to access it before title started with the idea of honoring artists by being artist owned and led focused on an uncompromised experience of the art. It’S, refreshing and right, the vision only grows stronger as its match, with more powerful tools for artists, inclusive of new ways of getting paid. This is something we spoke about in our last video. How are they going to make this work? It’S, probably going to be with cash app being the major sponsor let’s say for those artists, you, the individual, being able to sponsor those artists a bit like what spotify has been doing, giving. What square has been able to do for sellers of all sizes and individuals through cash app? We believe we can now work with artists to see the same success for them and us we’re going to start small and focus on the most critical needs of artists and growing. Their fan bases, square created, ecosystems of tools for sellers and individuals and we’ll. Do the same for artists, we’ll work on entirely new listening experiences to bring fans closer together, simple integrations for merge sales, okay, modern collaboration tools and new, complementary revenue streams now we’re getting to see more and more interesting stuff to all titles, current listeners and fans.
Thank you for your loyalty and commitment to artists and their work. Title will continue to be the best home for music musicians and culture. Our commitment to you is to constantly listen, learn and work to make a service. You love, and he ends by saying i’m grateful for jay’s vision, wisdom and leadership. I knew tidal was something special as soon as i experienced it. I honestly never heard of tidal before there were rumors. That square was about to acquire that company, but here we are and i’m inspired to work with him. He now helped lead our entire company, including seller, and the cash up app as soon as the deal closes alright. So a lot of us were very, very skeptical at first when you heard the rumors back in december, but it really fits the vision of square, obviously it’s. A big move to put jay z in the board of square, but we’ll see how that works out. But overall i really like this tweet here where he said that square created ecosystems of tools for sellers and individuals and we’ll do the same for artists. We’Ll work on an entirely new listening experiences to bring fans closer together, simple integrations for merge sales merch sets are going to be very, very big, modern, collaborations tool again. Another type of revenue stream that cash, app and square will win from that and new complementary revenue streams for the artists and especially for square and cash app as well.
So i would love to hear what you have to say about this in the comments below so overall i’m: pretty satisfied as a square shareholder, but we’re gon na see where this leads us in the future. Obviously the effect of this acquisition.