Jay-Z has done some risky investments, but he also has been able to make the investment pay off. He decided to take an ownership role with a basketball team and moved the team to his home of Brooklyn. He has also taken ownership of a music streaming business called Tidal. This was a risky move, especially when one considers the fact that there were already a lot of other music streaming services around. Somehow he has managed to stay on track and keep people interested in what Tidal has to offer.
The way that he has done this is with longtime friend Desiree Perez. She has been the flashlight in the dark path of music streaming for Jay-Z. He has had a rough start with Tidal because it can become quite costly to pay artists and the labels for people that are signed to different companies. Deals have to be worked out first to get the ball rolling. This is where Dez Perez comes into place.
Beyoncé, for example, was released an exclusive album on Tidal. She would find herself negotiating this with Sony since she is still under contract with this label. That would be something that would take the type of skills that Dez Perez has. She has become this behind the scenes person that has made her way into helping Jay-Z build a much better music streaming service. After other people in leadership roles left Tidal it would become crucial for Jay-Z to get someone in place that knew how to maintain the operations that would make Tidal valuable to others.
Dez Perez has been able to help Jay-Z when it came to running the numbers for tours for artists on Tidal. He has focused on exclusive content, and this has allowed him to maximize profit.
Many people thought that Jay-Z would only be competing with businesses like Spotify and Apple Music, but they were wrong. Jay-Z is also competing heavily with the video sites like Vevo and YouTube as well. There are lots of exclusive videos that are found on Tidal. This is another major thing that lures customers. People that cannot wait to see new videos may be tempted to connect to Tidal just because this is where some of their favorite artists have exclusive content. Usher and Maxwell have exclusive videos. Nick Jonas even has an exclusive album documentary that is only on Tidal.