Samsung has recently re-engaged in talks with Jay-Z to take Tidal off his hands. Tidal is a South Korean-based electronics company what teamed up with Jay-Z to help with the launch of 2013’s Magna Carta…Holy Grail, as well as several other albums with various artists. Back when the company was launched it was believed that Tidal would be worth around $250 million. But the worth of the company is thought to be valued around $100 million instead.
There have been some rumors floating around that Samsung might have given Kayne West a check. This check was for their involvement in the eagerly awaited ‘The Life of Pablo’ album, according to I.B. Bad, an industry insider. There have also been other companies, like Google and Spotify, have been looking at Tidal to help boost their own digital music service.
In his most recent column, I.B. Bad points out that many people believe that Tidal is actually losing money. It is believed that the company is losing around $10 million a year. Tidal, in an effort to help fix their money problem, have hoped that bringing in exclusives from Rihanna, Kayne, and Beyoncé could help. But their plan does not seem to be generating enough new subscribers to make the business sustainable. Tidal has also been having problems paying some of its royalty bills on time. On several occasions, Jay-Z has used his own money to help boost up the company.
Whatever happens next we know that Desiree (Des) Perez, Jay-Z’s behind the scenes women, will be involved. After a long line of executives at Tidal, it is no surprise that this is where Desiree Perez comes into play. She has been a close associate of Jay-Z for almost 20 years. She became involved in Roc Nations Sports, which is a sports agency that is was also created by Jay-Z. She also has a long record with running SC Enterprise, right alongside her husband OG Juan Perez.
She is known to be a fierce and tough negotiator as well as being a great number cruncher. Many people know that Desiree was the one that negotiated Beyoncés ‘Formation’ tour, as well as having a hand in the involvement of the Rihanna Samsung deal.
Source: HITS Daily Double