Have you heard about Jay Z's latest business venture? The musician/producer/Beyoncé-bae has bought Norwegian streaming service WiMP and its audiophile offering Tidal Hifi following a bid of 464 million Norwegian kroner (about £40 million) for Aspiro (they run both services).

In case you're not familiar with the name, Tidal Hifi is a music streaming service that offers high-quality streaming for a monthly subscription ($20 a month, about £13).

"There's a vacuum on the market – where sales of high end sound systems have grown exponentially – but digital music until we launched our HiFi-product has been compressed," Jay Z told Music Norway. "Now it's finally possible to match the quality of the music you play with the gear you play it on."

The service was first launched last fall in Norway under the name WiMP, and was in high demand despite its monthly fee of 199 kroner (£25).

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