In case you guys missed out, on Twitter #TidalFacts was trending everywhere, thanks to JayZ’s epic Twitter-rant with what some are speculating to be his “56 million dollar investment- Fail” in buying-out Tidal.
Since I have been following this story for a while, I can give you the down-low:
Tidal is a high-fidelity” music streaming service designed to get HD quality music/videos from artists for a monthly subscription fee of either:
$9.99 a month for standard sound quality
$19.99 for high-fidelity audio.
Sound familiar? That’s because it’s exactly what Spotify and Pandora offer and they have been around for years. But here is the kicker! Spotify also offers a free “ad-supported” service for those who can’t commit to the monthly fees of the premium package and Jay refuses to commit to this model. Going so far as making this his “revolutionary” selling point for Tidal.
In January of 2015 Jay-z announced that he was to purchase Tidal from the Swedish company, Aspiro, for 56 Million dollars. This caused a lot of hype and people were curious to see if the company was really worth that much, here is where things got a little messy (Jay inserts rapper ego into business model):
Jay starts what is to be an epic fail of a “revolutionary” campaign! claiming that him and his army of celebrity friends will be conquering the music industry by putting the power back in the artists hands.
How did he plan to do this you ask?
By cutting-off the middle man (or so he claimed), the advertisers and corporate interests. As well claiming that a whopping 75% of the listeners monthly subscription fee from Tidal would go right into the pocket of the artist as there are a lot of struggling artist who get stuck in the vicious cycle of signing with a record label and barely seeing any profits from their record sales. (please note: Jay owns Roc-A-fella records, Roc Nation and has been the CEO of Def Jam Recordings)
And who did he have coming in on his investment?
Oh you know, the struggling artists with the likes of: Madonna, Beyoncé, Alicia Keys, Jack White, Calvin Harris, Coldplay’s Chris Martin, and Rihanna who are each supposedly getting 3% of the company shares.
Here is another awesome find: Jay gets the rest of the company shares along side another investor and also THE RECORD LABELS tied with Jay!
And this is the pitch: Tidal is a good thing for musicians, musicians like; Jay and his friends. So we should all get Tidal to respect artists and “art”.
I am sorry Jay? Are you ok?! No like really, are you ok?!
You and your friends are already millionaires and this is your pitch?! -We need to give millionaires more money so that they can become billionaires. I mean really, think about that for a second! How is that enticing any of us to get on board with Tidal?!
I personally love music and I would pay good money to go see live-shows or to buy records from artist. But for someone like me, who likes to explore and find new artists, the small database of Tidal could never quench my thirst for music.
Moreover, I don’t really want to be told what kind of music to listen to by a music streaming service that is likely going to push artists under their own “investor” labels.
So there you have it folks, Tidal clearly has far more than 99 problems and Jay needs to seriously reconsider his antics as well as the services he offers on Tidal.
Let me know what you guys think of Tidal!