Jay Z recently purchased the Tidal steaming service in hopes of breathing new life into it. At the launch event for the streaming service, Kanye West, Beyoncé, Daft Punk, Jack White, Nicki Minaj, Madonna, Rihanna, Usher, Alicia Keys, J. Cole, and many other artist were in attendance. After a speech given by Alicia Keys, all of the artists in attendance signed a declaration. All of the artists who signed that declaration were announced as co-owners of Tidal.
Tidal will look to compete with companies such as Spotify, Pandora, and the soon to be released Apple music streaming service. With Tidal there will be no free plan. Monthly plans start at $9.95 a month. Members can also pay $19.95 for high quality streaming. Tidal also has deals with all major labels. It will be interesting to see how Tidal competes with the more established music streaming companies. One thing is for sure, streaming services are here to stay, but are they more helpful or hurtful to the music industry?