Comment on Jay Z hoping Tidal service will be a streaming holy grail

Jay Z hoping Tidal service will be a streaming holy grail

On Monday, Jay Z, the rap star and entertainment mogul, unveiled his plans for Tidal, a subscription streaming service he recently bought for $56 million. “We are treating these people that really care about the music with the utmost respect,” Jay Z said in an interview as he prepared last week for the news conference announcing the service. Jay Z’s plan is the latest entry in an escalating battle over streaming music, which has become the industry’s fastest-growing revenue source but has also drawn criticism for its economic model. Major record labels, as well as artists like Taylor Swift, have also openly challenged the so-called freemium model advocated by Spotify, which offers free access to music as a way to lure customers to paying subscriptions. [...] it will have two subscription tiers defined by audio quality: $10 a month for a compressed format (the standard on most digital outlets) and $20 for CD-quality streams. [...] the broader market for streaming music includes YouTube and the Internet radio giant Pandora. [...] one executive involved in the negotiations, who spoke on the condition of anonymity because the deals were private, said that participating artists were being granted shares in exchange for their good-faith efforts to supply exclusive content — a sign, perhaps, of the confidence that the artists and their managers have in Jay Z’s ability to get things done.

 

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