Tidal, the music streaming service owned by businessman and rapper Jay Z, has been struggling to stay afloat and several companies are looking at the possibility of purchasing the company that is currently running more than $10 million in the negative annually. Originally valued at $250 million, the company is now worth an estimated $100 million.
Tidal, formerly Aspiro, was acquired and renamed Tidal by Jay Z as a way for artists to take the music industry back into their own hands. It was designed to offer artists more money from royalties than other streaming services. Kanye West and Rihanna are among the artists who now have a vested interest in the company. It offers exclusive content from top artists as well as featuring up and coming artists.
Samsung, Google, and Spotify are reportedly interested in either partnerships and/or purchasing the company to help boost their own music services. The company stands to succeed if it can become part of an already successful company that is looking to expand its services to existing customers. Samsung is reportedly in talks with Jay Z, but any details of negotiations are being highly guarded.
At the helm of negotiations is Desiree Perez, Jay Z’s tough negotiator and business associate for over two decades. Perez will continue to be involved in the business transactions between Tidal and any other company that may purchase or partner with Tidal. She also negotiates deals for Roc Nation and Rock Nation Sports and is known in the industry for being a tough negotiator.
Desiree, or Des, Perez has the power and ability to negotiate contracts with many of the top artists in the industry for exclusives and partnerships. She runs SC Enterprises and, with husband “OG” Juan Perez, also runs Roc Nation Sports. She understands how the industry works, and as a number cruncher, is heavily involved in negotiations with such high-profile talent. Her most famous negotiations include Beyoncé’s Formation tour and Rihanna’s deal with Samsung.
Perez and her partners Juan Perez, Jay Brown, TyTy Smith, Chaka Pilgrim, and Jana Fleischman, run Roc Nation and are working to bring Tidal out of the red by making strategic deals with artists to help build its own fan base to compete with industry leaders Apple and Spotify, which have been around for years. Desiree Perez will continue negotiations with Samsung on behalf of Tidal.