“It’s small-it’s not an enormous audience-but it shows that it was an un-met need.” “Going after the audio enthusiast market, we added 200,000 subscribers just from September through January,” Deezer CEO Tyler Goldman told Billboard.
For many streaming sites, offering better sound has led to a significant but not remarkable uptick. Part of Tidal’s big pitch is its emphasis on sound quality-it streams FLAC files instead of the inferior-yet-more-common MP3 format-but there is no clear indicator as to whether the general public will be all that enthused about better audio. But does anyone really believe that the public is ready to pay as much as $24.99 a month to stream music just because cool pop stars vouch for it and it offers HQ audio? While it could be argued that the awkward spectacle of the launch was unnecessary and the “for the artist, by the artist” posturing is a bit naïve, the launch of Tidal does present an interesting avenue for certain artists to try to maintain a sustained revenue stream for their life’s work. Stars like Jack White, Rihanna, Chris Martin of Coldplay, and Nicki Minaj are also to be shareholders in the company according to Billboard, each artist was gifted 3 percent equity in Tidal.
There were also intimations that Tidal would feature exclusive artist content, with no exact specifics outlined. Tidal currently has just over 500,000 users. The popular service boasts 60 million users, with 15 million opting for paid service. Services like Spotify have come under criticism from artists who feel they are grossly underpaid for streams. “We believe it is in everyone's interest-fans, artists and the industry as a whole-to preserve the value of music and to ensure a healthy and robust industry for years to come.” “Tidal is dedicated to cultivating a sound business enterprise that promotes the health and sustainability of our art and our industry around the world,” Keys said during her address to the attendees. Alongside the rapper were other pop icons and shareholders in the service: Alicia Keys, Kanye West, Daft Punk, Madonna, Beyoncé, and more-with Keys proclaiming the venture as representing the dawn of a new era for the music industry in the wake of the streaming music boom. Mr Dorsey was photographed in August in the Hamptons with Jay-Z and his wife, Beyoncé, and then again in December with the power couple and actor Sean Penn on a beach in Hawaii.On Monday, hip-hop mogul Jay Z and a parade of superstars announced the official launch of the rebranded music streaming service Tidal in New York City. It's believed Mr Dorsey, who spent more than four years on the board of Walt Disney Co, imagines Square will similarly own a collection of businesses under one corporate umbrella. Square's two core products, Square Seller and Cash App, already operate somewhat separately within Square, each with its own "lead" on the executive team. Mr Dorsey, meanwhile, has ambitions to build Square into a much broader company made up of stand-alone, complementary services. The closely-held service hasn't reported subscriber figures since saying it had 3 million paying customers in 2016. Jay-Z's own music has been a lure for the platform, but he put his songs back on Spotify last year - raising questions about the health of Tidal. Tidal, which first launched in 2014, has struggled to keep pace with other streaming services, including Spotify Technology and Apple Music.