Given the upbeat scenario, major companies like Alphabet’s ( GOOGL Quick Quote GOOGL - Free Report) Google, Apple, Amazon ( AMZN Quick Quote AMZN - Free Report), and Spotify ( SPOT Quick Quote SPOT - Free Report), who are the key players in the music-streaming market currently, are leaving no stone unturned to bolster their presence in this particular space. We believe that Square is well-poised to capitalize on these growth opportunities on the back of its latest move. The figure is expected to reach 11.6% by 2025. Given the upbeat scenario, we believe that the music-streaming market has immense prospects.Ī Statista report shows that the market is expected to generate $23.1 billion in revenues for 2021 and the figure is expected to hit $33.4 billion by 2025, witnessing a CAGR of 9.7%.Īdditionally, the user penetration rate in the market is likely to hit 8.3% in 2021. Moreover, the increasing penetration of Internet and smartphone usage is fuelling the demand for such services.Īdditionally, the uninterrupted access to high-quality audio files, without the need for downloading,which generally takes up time and phone memory, is a key catalyst. The changing landscape of this data-driven world has created a unique niche for music-streaming services. price-consensus-eps-surprise-chart | Square, Inc.
This will expand Square’s service offerings. Square has agreed to pay in a combination of stock worth $297 million and cash for the underlined acquisition.Īlthough Tidal will continue to operate independently post acquisition, Square intends to integrate it into its seller and Cash App ecosystems. Further, it helps fans to build deep connections with their favorite artists.
TIDAL MUSIC STOCK SYMBOL SERIES
Further, Tidal streams original and curated content of artists, allowing them to reach their audiences and fans directly.Īlso, the service streams original video series and podcasts.
Notably, the service, which offers more than 70 million songs and 250,000 videos, has listeners in more than 56 countries. The deal is expected to be completed in second-quarter 2021. This is evident from its latest definitive agreement to acquire a majority stake in Jay-Z’s music-streaming service called Tidal. Koning expects gross profit to advance by an annual 15%-25% over the next three to five years, "with some margin expansion/use of cash benefit driving EPS growth of 30-50%." ( See Square stock analysis on TipRanks).Square ( SQ Quick Quote SQ - Free Report) is making a foray into the booming music-streaming space, which will help it diversify its business by exploring the opportunities in the uncharted territory. Baird analyst David Koning this week recommended investors remain "patient" as he views the stock as "a strong and defensible franchise with great secular growth themes in payment." With SQ shares up a stellar 267% year-to-date, Robert W. After sitting more than four years on the board of Walt Disney Co., Dorsey is looking into building a similar model for Square, whereby it would own a collection of businesses under one corporate umbrella, Bloomberg reported. The service is available in 53 countries and offers more than 60 million songs and 250,000 videos.ĭorsey, meanwhile, has a vision to turn the digital-payment company into a much broader company made up of stand-alone, complementary services. The closely held service hasn’t reported subscriber figures since saying it had 3 million paying customers in 2016, according to Bloomberg.Īmong Tidal owners are high-profile artists, including Beyoncé, Alicia Keys, Coldplay, Madonna, Rihanna and others, according to its website. Jay-Z’s own music has been the point of attention for the platform, but he put his songs back on Spotify last year - raising questions about the health of Tidal. Tidal, which first launched in 2014, has been grappling with fierce competition from established streaming services, including Spotify Technology SA and Apple Music.
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