Jay Z Invades Streaming Business By Offering $56 Million For Spotify Rival

Jay Z is setting his sights on buying Spotify rival Aspiro, the Swedish parent company of two subscription streaming services, WiMP and TIDAL, for $56 million!

“Aspiro is a media technology company in the forefront of the ongoing redefinition of music consumption,” a spokesperson for the 45-year-old rapper’s Sean Carter Enterprises shared in a statement to Rolling Stone. “Through the subscription services WiMP and TIDAL, Aspiro offers a complete experience of higher HiFi quality. The platform encompasses audio, video and integrated editorial features.”

The statement continued, “Panther believes that the recent developments in the entertainment industry, with the migration to 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.”

You can be sure all of Jay‘s celeb friends will hop on board including Taylor Swift, who has pulled all of her music and publicly spoken out against Spotify.