Have you heard of Aspiro? No? Well, you're about to, since Jay Z is in talks to buy it.
Hov,and his company, Project Panther Bidco, has made a $56 million offer for the company, according to The New York Times, which is based in Sweden and owns two music services. Aspiro is the parent company of WiMP and Tidal, which are each streaming services in the vein of Spotify and Beats Music. The rapper would reportedly acquire 59% of the company.
"Panther believes that the recent developments in the entertainment industry, with the migration to music and media streaming, offers great potential for increased entertainment consumption and an opportunity for artists to further promote their music," Panther said in a statement, according to Business Insider. "Panther's strategic ambition revolves around global expansion and up-scaling of Aspiro's platform, technology and services."
Music streaming services are continuing to grow, becoming an increasingly common way that many people listen to music. In hip-hop, it's become especially pronounced. In 2014, total sales for hip-hop albums decreased by almost 25%, but streams increased by 54%.
Heads up, Dr. Dre. Jay Z is coming for that spot.