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Sprint buys 33 percent stake in Jay Z's Tidal streaming service

The move now gives Sprint's 45 million customers access to the service.

Kevork S. Djansezian // Getty Images

In a major power move announcement this morning (January 23), Sprint has taken a 33 percent stake in Tidal, the artist-owned streaming service created by Jay Z.

In a press release, the mobile carrier described the deal, which Billboard reports to have cost Sprint $200 million, as an "unprecedented partnership" that will allow Sprint subscribers "unlimited access to exclusive artist content not available anywhere else." This move allows the mobile carrier's 45 million customers access to Tidal with its CEO, Marcelo Claure, joining in Tidal's board of directors.

"Sprint shares our view of revolutionizing the creative industry to allow artists to connect directly with their fans and reach their fullest, shared potential," said Jay Z in a statement. "Marcelo understood our goal right away and together we are excited to bring Sprint's 45 million customers an unmatched entertainment experience."

The companies also revealed that more news on exclusive offers for Sprint subscribers will be unveiled soon as plans are in place for artist exclusives, which is reportedly backed by a new marketing fund of $75 million dedicated to support artist initiatives and exclusives.

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