Tidal was considered a relatively niche player in the music streaming game until Jay Z bought its parent company, Aspiro, on March 12. With investments spanning fashion, beauty, sports bars, basketball teams and real estate, the businessman (or business, man), has a history of doing smart things with his millions and the high fidelity service looks like his next project.

The buyout is a “game-changing move,” says Andy Chen, CEO of Aspiro. Chen reckons it was his company’s ...