Last night 16 artists from the music industry shared the stage in New York, not for a music awards ceremony but to launch a service which they believe will revolutionize the music industry forever. New York saw the launch of ‘TIDAL’, a music streaming service, in the presence of artists like deadmau5, Madonna, Calvin Harris, Jack White, Daft Punk, Rihanna and many more.
Rapper and musician Jay-Z was in news over the last months regarding the acquisition of the service for $56 Million from the parent company Aspiro, but the details were not revealed back then. It was assumed that Jay-Z owned the service, but the launch revealed that it is co-owned by 17 artists along with a partnership with ‘Sprint’ owned by Softbank, most of whom were present at the launch as reported by EDM.com.
The idea behind the app is to have uncompromised quality songs available for stream (1411 kbps), as most streams offer 320kbps. There will be over 25 million tracks available in lossless audio quality. TIDAL will also feature interviews, editorials and dedicated playlists. They will recommend songs and artists based on user preference and have a song ID feature much like Shazam.
The service is now available at a monthly subscription of $19.99 for high fidelity streaming and $9.99 for standard streaming, and has already acquired over 40,000 paying customers.