Rapper/Entrepreneur Shawn “Jay Z” Carter’s business holdings go far beyond what is publicly seen and known. The mogul has millions tied up in other ventures in digital media, apparel and soon technology. Through a private company he controls, Jay Z made an aggressive bid for a Aspiro, a Swedish media streaming company that owns two digital music services called Tidal and WiMP. With this form of media becoming more dominant, thanks to services like Spotify, Rhapsody and the soon to be relaunched Apple music service, this is a shrewd move by Mr. Carter as he will now become a huge competitor to the very outlets that sells and streams his music. Still confused as to why he would want to own such a company and challenge the services that puts money in his pockets? Here are 8 reasons why Jay Z is buying Aspiro.
1- Owning Aspiro would give him a foothold on the streaming music front
2- It makes him a major player on a field with giants like Apple and Spotify
3- Aspiro’s two services, WiMP and Tidal, have so far been fringe outlets in the growing field of subscription music.
4- Tidal which is part of Aspiro got top ratings from the likes of Engadget,The Verge and Forbes to name a few
5- Aspiro’s other streaming music service called WiMP is a could play a huge roll in growing the Roc Nation Records roster
6- Aspiro’s service Tidal streams music in rare high fidelity audio which none of its big competitors like Spotify offer
7- WiMP has over 512k paying subscribers at $20 a month. Do the math,
8- Jay Z could develop special exclusive content deals for artists with the Roc Nation