Sprint, Jay Z announce partnership

Jay Z's artist-owned streaming service, Tidal, and Sprint announced a new partnership on Monday that will give the company's 45 million customers unlimited access to Tidal, including exclusive content.

In the deal, the telecommunications company acquired a 33 percent stake in Tidal, Sprint CEO Marcelo Claure will join Tidal's board of directors. A source familiar with the deal told Billboard that Sprint paid $200 million for its stake in the company and that Jay Z and the company's two dozen artist-owners - Beyonce, Nicki Minaj, Rihanna and Coldplay among them - will remain part owners.

'Sprint shares our view of revolutionizing the creative industry to allow artists to connect directly with their fans and reach their fullest, shared potential,” Jay Z said in a statement.

As part of the partnership, Sprint will establish a dedicated marketing fund specifically for Tidal artists that will afford them 'the flexibility to create and share their work with and for their fans.”

No further details were unveiled about the marketing fund or the exclusive content the service plans on rolling out in its new partnership.

Exclusive content has bolstered the fledgling, often-maligned service, and 2016 was the company's biggest year yet.