A long time ago, Jay Z just us to know that hes a hustler, baby. After accomplishing all that there is to accomplish in the music world, S. Carter has focused his business acumen in other arenas. He expanded his reach in the fashion world beyond Rocawear with his Barneys line. He entered the sports world when he became an owner of the NBA’s Nets franchise and starting his sports management firm, Roc Nation Sports. Most recently, he acquired the “Ace of Spades” champagne imprint that he had been promoting for years. These are just a few of his moves. Now, Jay has decided to enter the music streaming world with his purchase of WiMP for $56 million.
WiMP is one of Spotify’s biggest rivals and is extremely popular in Scandinavian nations. The company also runs, Tidal, a Norwegian streaming service. Through his London-based company, Project Panther Bidco, Jay Z offered $56 million to buy Aspiro, a company based in Sweden and it is reported that Aspiro’s main shareholder accepted the offer.
In a statement, Jay Z said:
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.
Jay Z continues to make boss-like moves in the business world. Do you think he has the savvy to knock Spotify out of the number one spot in the music streaming world?