Shawn Carter, better known as “Jay-Z” in the music industry is not completely familiar with all aspects of the music business, but a few years ago he founded an app called “Tidal.” Initially, he tried to handle everything in-house, but with a constant turn around of executives, he knew he had to make a desperate call.
When Jay-Z transitioned from rap to managing his streaming music app, he thought he could corner the market. However, the transition was not as easy as he thought it would be. However, when things got tough, he paired up with Desiree Perez. Together, they have made the transition appear extremely simple.
Perez entered into the situation knowing that Tidal was an underdog in the streaming music industry. However, she is confident in her marketing capabilities and stated that the company will be around for a long time to come.
With a few changes in the way everything is managed, a change in the way marketing is handled, and changes in the way contracts are negotiated, Desiree Perez has this app reaching for the sky.
According to the templeofthecave.com, Perez is well-known for her business smarts and her ability to work with recording artists. Her husband is the head of Roc Nation Sports, who also has stake in the “Tidal” streaming music app.
Tidal’s Financial History
Tidal is known for its rocky financial history. It started with a much lower budget than other apps like it had. Since it plowed through several executives without creating a substantial profit, money was lost there too. When the company reached a financial pitfall, Perez stepped in to get a handle on the situation. More on billboard.com.
Since Perez has amazing negotiation skills, she has been able to sign off on a few multi-million dollar contracts, which has provided great relief for the company as a whole. At this rate, the app should be pulling in a substantial profit very soon. For more updates from Dez click on crunchbase.com.
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