According to several sources, Samsung has started talks with Jay-Z with the aim of taking the project off his hands. Tidal is a South Korean-based electronics company. It has merged with Jay Z to launch Magna Carta Holy Grail association with Rihanna’s Roc Nations to launch ANTI. The meetings with Tidal have been on and off.
According to HITS industry insider I.B Bad, Samsung has allegedly written some check to Kanye West regarding his involvement in the eagerly anticipated The Life of Pablo. An additional source added that Samsung is re-engaging and geared towards an incredibly huge project with Kanye West. However, they are quiet about the project and would not want to leak any details. I.B further points out in his new column that insiders believe Tidal is losing $10 million a year from the north but recent reports from Beyonce, Kanye and Rihanna do not show a rise in subscribers.
Desiree Perez, famously known as Jay Z’s woman behind the scenes will float the boat from now henceforth. She focuses on gearing Tidal, Roc Nation, and Roc Nation Sports by cutting all the deals for the enterprises because she is known for her expertise in landing business deals. While Google and Spotify have been eyeing Tidal as well, Spotify held discussions with Tidal. They are focusing on creating an initiative that could generate a Tidal-powered by Spotify partnership than an acquisition.
One source added that there is pressure to engage with Tidal. However, it is factual that Tidal has payment issues with some of its royalty bills forcing Jay-Z to fund Tidal on settling the bills. Initially, Tidal enjoyed funding from SoftBank and Sprint. Sources further reveal that Tidal needs new management to continue with business. During its launch, Tidal principals approximated its value to $100 million.
About Desiree Perez
Desiree Perez has been a close associate with Jay-Z for over 20 years. Her track dates back to her roles as an associate in her husband’s SC Enterprises. Together with her husband Juan Perez who manages Roc Nation, Desiree Perez is a tough negotiator who has brought in big deals and had a history of street representation that Cookie of Empire show would find challenging. She negotiated Formation, Beyonce’s stadium tour as well as Rihanna’s Samsung deal. Perez is the core component of the husband’s managerial team which includes Jay Brown, TyTY Smith, Jana Fleischman, and Chaka Pilgrim.