NEW YORK TIMES: Jay Z is aiming to more fairly compensate musicians in the age of streaming music by launching his own service called Tidal.
NEW YORK TIMES: Jay Z is aiming to more fairly compensate musicians in the age of streaming music by launching his own service called Tidal.
On Monday, Jay Z, the rap star and entertainment mogul, announced his plans for Tidal, a subscription streaming service he recently bought for $56 million. Facing competition from Spotify, Google and other companies that will soon include Apple, Tidal will be fashioned as a home for high-fidelity audio and exclusive content. But perhaps the most notable part of Jay Z’s strategy is that a majority of the company will be owned by artists. The move may bring financial benefits for those involved, but it is also powerfully symbolic in a business where musicians have seldom had direct control over how their work is consumed.
“This is a platform that’s owned by artists,” Jay Z said in an interview as he prepared last week for the news conference announcing the service.
