Published Jan 30, 2015Some artists are still refusing to embrace streaming services, while others are getting into the game with hilarious gimmicky services. Rap mogul Jay Z, however, seems to be seriously considering getting into the business, placing a $56 million bid on a Scandinavian company.
More specifically, Project Panther (a company owned by Jay Z's S. Carter Enterprises) has placed the aforementioned offer on Aspiro (a Norwegian company that owns high-quality streaming services Tidal and WiMP).
As reported by Engadget, Aspiro's board has already reviewed the offer and recommended that shareholders accept the bid.
Business Insider shared the following statement from Jay Z's camp:
Panther believes that the recent developments in the entertainment industry, with the migration to music and media streaming, offers great potential for increased entertainment consumption and an opportunity for artists to further promote their music. Panther's strategic ambition revolves around global expansion and up-scaling of Aspiro's platform, technology and services.
Fellow hip-hop entrepreneur Dr. Dre recently made headlines — and a lot of money — for striking a deal between his Beats headphone company and Apple, with the two merging to deliver a new streaming service later this year.