Jay Z has made yet another investment into a high-quality music-streaming service called 'Tidal'.
Spending $56 million on a large portion of the company Aspiro earlier this fall, the investment has one great cause behind it: helping music artists make money.
Now to some, this might seem like an unethical choice with competitors like Spotify in the mix, however, it solves the biggest problem that many other artists face... and thats either the ability to have control of their music or even making money from it. With mega-stars like Beyonce, Madonna, Kanye West, Nicki Minaj, Rihanna, Alicia Keys and J.Cole in support and attendance, it is hard to believe that this new platform will take over soon, despite the negative feedback from music companies.
I mean after all, its guerilla marketing. Get a whole bunch of artists together with mega followings and create a service and platform that will solve the issue Spotify and Youtube don't seem to care about.Things you need to know about Jay Z's new found love, 'Tidal':
- 'Tidal' has now been deemed the first service of its kind to be owned by music artists
- 'Tidal' is a global music and entertainment platform will now put music back into the artist's hands
- According to Billboard, 16 artists have inked exclusive deals—most of whom were on hand for the announcement—have each been given 3 percent equity in the company.
- Artists on 'Tidal' will offer “windows” of limited exclusivity to their new music, an incentive for fans to purchase subscriptions and hear their favorite artist’s music before it's available elsewhere.
- 'Tidal' is a subscription-based music service offering high quality music and sound. This means, that there are no-ads and artists have full control over the amount of money they make through the amount of subscriptions.
"This is a platform that's owned by artists," Jay Z said in an interview to the New York Times."We are treating these people that really care about the music with the utmost respect."