Jay Z is buying Tidal to take on Spotify and Beats

Dr. Dre isn't the only one who sees bright lights in the future of music streaming. Rapper Jay Z is now snapping up high-quality music service Tidal as part of an acquisition of Swedish firm Aspiro, making him the latest A-lister to put his name to a big music brand.

The bid has actually been made by Project Panther, a company owned by Jay Z's S. Carter Enterprises. If everything goes to plan it'll also be bagging WiMP, another streaming service owned by Aspiro.

Neither WiMP or Tidal are quite up to competing with Spotify or Beats in terms of subscribers, but Tidal made some serious waves when it launched last year, offering streamable CD quality FLAC music at a more premium price.

Dre's proven the value of sticking a 'sleb name on something in this business. The rapper made more than a few pennies when Apple bought Beats last year - can Jay Z follow in Dre's footsteps and give Tidal the boost it deserves? This could be a massive boost for the infant service.

We've contacted Tidal to ask further details on what the future might hold, and we'll update if we hear more.

• Time to get onboard with Tidal?

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