Last night Rapper and business mogul Jay Z announced just how his new music streaming site Tidal is ‘artist friendly’
he rapper’s site Tidal offers CD-quality streaming of over 25 million tracks, 75,000 music videos and other content such as artist interviews for a subscription fee, with the price now to be $19.99 a month in the US and £19.99 in the UK. Forbes takes Jay Z’s view to be that the service will reap better financial rewards for artists compared to other streaming sites. This comes after it was revealed that two weeks ago Jay Z’s company Project Panther bought Aspiro, a Swedish company that runs two streaming sites, WiMP and Tidal, for £37million.
Taylor Swift, who famously removed her entire discography from popular streaming site Spotify, is among those to feature on the service. Other artists involved in the service include Jack White, Coldplay and Daft Punk. Certain artists also changed their social media profile pictures to a turquoise square to show affiliation with the launch.
The press invitation to the event launch stated: “Shawn ‘Jay Z’ Carter and special guests will announce a commitment to a new direction for the music industry from both a creative and business perspective.”
Tidal has been criticised for being a means of making rich artists richer. However, the suggestion is that it will pay double the royalties of other streaming sites, while Jay Z was clear in his opposition to the idea that it exists to provide greater weight to his wallet, stating “Will artists make more money? Even if it means less profit for our bottom line, absolutely.” He went on to say, “that’s easy for us. We can do that. Less profit for our bottom line, more money for the artist. Fantastic.”
What’s your view on Tidal?