Jay Z steps out with celeb pals for Tidal launch

Jay Z’s Tidal relaunch event answered a few questions, but raised many more.

Tidal is a lesser-known competitor to music-streaming services such as Spotify and Pandora. But it is suddenly getting a nudge in notoriety.

That’s because the hip-hop mogul recently acquired controlling interest in the Scandinavian-based service. He held an event in New York on Monday introducing the “owners” of Tidal.

Joining him on stage at Skylight at Moynihan Station were Beyonce, Alicia Keys, Daft Punk, Kanye West, Usher, deadmau5, Madonna, Rihanna, Jason Aldean, Nicki Minaj, Win Butler and Régine Chassagn of Arcade Fire, Chris Martin (Coldplay), J. Cole, Jack White, and Calvin Harris.

Those artists who appeared Monday supposedly have been given 3% equity in the company, with Jay Z holding the remaining stakes, according to Billboard, which cited executives familiar with Tidal’s financials.

Tidal is “the first-ever artist-owned global music and entertainment platform,” said Keys, the lone musician to take the podium. “We want to create a better service and better experience for fans and for artists.”

The group’s mission, she said, is “beyond commerce and technology … to preserve music’s importance in our lives.”

To further that mission, Tidal has added a new $9.99 monthly subscription for standard-definition or normal sound quality.

Since it launched in the U.S. in October, Tidal offered only a $19.99 monthly subscription for unlimited listening of high-definition sound — with no free-listening tier. You do get a seven-day free trial (available on Android and iOS devices, computers and some home audio products, including Sonos speakers).

The additional pay tier is vital to make Tidal competitive with industry leader Spotify and an expected new music-streaming service from Apple, which acquired Beats Music last year for $3.2 billion.

Although Tidal has a relatively small paying customer base — 540,000 according toBillboard — it could grow as music lovers take a liking to higher-resolution music.

Those listening to streaming music via earbuds or portable Bluetooth speakers won’t hear a difference with high-res, but if you are at home listening on something like Sonos or a competitor that does Wi-Fi-based streaming, you will (hear a difference),” said Sonos CEO John McFarlane.

The group’s mission, she said, is “beyond commerce and technology … to preserve music’s importance in our lives.”

To further that mission, Tidal has added a new $9.99 monthly subscription for standard-definition or normal sound quality.

Since it launched in the U.S. in October, Tidal offered only a $19.99 monthly subscription for unlimited listening of high-definition sound — with no free-listening tier. You do get a seven-day free trial (available on Android and iOS devices, computers and some home audio products, including Sonos speakers).

The additional pay tier is vital to make Tidal competitive with industry leader Spotify and an expected new music-streaming service from Apple, which acquired Beats Music last year for $3.2 billion.

Although Tidal has a relatively small paying customer base — 540,000 according toBillboard — it could grow as music lovers take a liking to higher-resolution music.

Those listening to streaming music via earbuds or portable Bluetooth speakers won’t hear a difference with high-res, but if you are at home listening on something like Sonos or a competitor that does Wi-Fi-based streaming, you will (hear a difference),” said Sonos CEO John McFarlane.

Read more here.

• Tags:
• Jay-Z
• music streaming
• Spotify
• Tidal

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