HiFi (acq. by Block)Recently Acquired by Block, Inc. and Incorporated into Tidal.3.9 out of 5
3.9 out of 5
Hot take
HIFI, now acquired by Block (Jack Dorsey's fintech company), launched in 2020 as a financial rights organization for artists, providing a comprehensive royalty tracking dashboard that aggregates data from various music industry sources. Their platform enables artists to monitor income streams and even access regular salary payments through their 'Cash Flow' royalty acceleration service. With heavyweight industry backers including Matt Pincus, Michelle Jubelirer, and artists like Diplo and G-Eazy, HIFI positioned itself as a financial empowerment tool for creators. The acquisition by Block, which also owns TIDAL, signals a strategic move to integrate music and financial services, potentially creating a more robust ecosystem for artists to manage their finances.
How was this take was created?
Pros
Comprehensive royalty tracking dashboard
Aggregates data from labels, publishers, and PROs
Offers 'Cash Flow' service for regular artist payments
Strong industry backing with major investors
Integration with Block could provide enhanced financial tools
Built specifically to address artist financial challenges
Cons
Acquisition by Block raises questions about future independence
Block's previous music investment (TIDAL) was described as a 'terrible business decision'
Potential overlap with Block's other investments like Stem
Limited track record as a relatively new service (launched 2020)
Key Features
Financial rights management
Royalty income tracking dashboard
Data aggregation from multiple music industry sources
Royalty acceleration services
Artist financial empowerment tools
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