Okay, so recently there has been much talk about Jay Z’s streaming music service Tidal. Most of the conversations are based around common questions. The biggest question being, “What is the benefit to using Tidal versus other music streaming platforms like Spotify?” Yesterday, Jay Z and Tidal executive Vania Schlogel held an informative Q&A session at NYU. The two Tidal reps spoke with students about the streaming service and how it differs from others.
From the artist’s standpoint, Jay Z boasts that Tidal is about to change the industry. He believes that the payout structure in regards to royalties is a game changer and that both indie and major artists will be very pleased. “There is no free tier and we’ll pay the highest royalty percentage. That’s how we’ll change the industry,” Hov said.
Tidal has proclaimed itself to be the first artist-owned streaming service. The new platform looks to open new doors for all artists, even for those without a major deal. “I’m on Tidal. I don’t have a record deal,” said Jay Z. “All artists who come in — and this is an open platform, an open invitation — will participate in the equity upside.”
For listening subscribers, Tidal delivers a top quality sound. It is the first music streaming service to combine the best high fidelity sound quality, high definition music videos, and expertly curated editorial. The service has over 25 million tracks and 75,000 music videos.
It is too early in the game to know who will come out as the clear winner in all of this, but time will soon tell. The real question is, can artists like Jay Z change the game from the outside in with power moves like the Tidal initiative?
Read the full transcript of the interview here.
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