Jay Z and Beyonce launched a music streaming service in 2015 called?
Jay-Z ties to the company date back to 2006, and he received millions of dollars per year for his association with Armand de Brignac before he bought the entire company. In March 2015, Jay-Z completed the $56 million acquisition of Aspiro, a Norwegian media technology company that operates the subscription-based music streaming service Tidal, which has been in operation since October 2014. The music service was acquired through his company Project Panther Bidco Ltd. (an entity indirectly owned by Jay-Z's S. Carter Enterprises a company holding interests in leading international music, media and entertainment companies). The acquisition was completed with the
Jay-Z help of Mooreland Partners, a leading global technology-focused M&A advisory firm, which acted as financial advisor to Aspiro. The music service combines lossless audio and high definition music videos with curated editorial. The main idea of the service is to bring major revenue streams back to the music artists themselves as the idea of an artist-owned streaming platform was stated as to "restore the value to music by launching a service owned by artists." Jay-Z currently is a major shareholder in the company. Parlux fragrances sued Jay-Z for $18 million for the failure of his cologne, "Gold". They claim the