In June, 2022, through the disclosure of the Annual Stockholder Meeting 2022, Block reported that the stake acquired in the Tidal music service was 86.8%.
In March 2021, Block, then known as Square, agreed to pay $297 million for majority ownership of Tidal. In January 2017, Sprint Corporation bought 33% of Tidal for a reported $200 million. In March 2015, Aspiro was acquired by Project Panther Bidco Ltd., which relaunched the service with a mass-marketing campaign, promoting it as the first artist-owned streaming service. Tidal claims to pay the highest percentage of royalties to music artists and songwriters within the music streaming market. It offers two levels of service: Tidal HiFi (up to CD quality – FLAC-based 16-bit/44.1 kHz) and Tidal HiFi Plus (up to MQA – 24-bit/96 kHz). With distribution agreements with all three major record labels and many independent labels, Tidal claims to provide access to more than 80 million tracks and 350,000 music videos. Tidal was launched in 2014 by Swedish public company Aspiro which is now majority-owned by Block, Inc., an American payment processing company. Tidal (stylized in all caps) is a Norwegian-American subscription-based music, podcast and video streaming service that offers audio and music videos.
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