Arcade Fire’s Win Butler and Regine Chassagne recently sat down with the Independent to talk about the band’s new documentary, The Reflektor Tapes. During the conversation, Butler also broached the topic of Tidal of which the couple is part-owners.

Butler conceded that Tidal’s star-studded launch, which packed a stage with more than a dozen of its famous artist owners and has been lambasted ever since, was poorly conceived.

“None of the artists knew anything about the PR,” Butler said. “It was a poorly managed launch, but conceptually the thing that we liked about Tidal was that it’s HD streaming quality.”

Butler, however, places blame for some of Tidal’s failures -- and those of the music industry at large -- on major labels:

They dictated that Tidal has to cost $20. The major label music industry has completely ruined every aspect of their business. At every step of the way they’ve had the tools offered to them to create an industry that works, and they’ve completely blown it. That’s why we never had any interest in signing a contract with one of these companies because they’re clearly completely clueless.

The Arcade Fire leader also said he doesn’t regret getting involved with Jay Z’s venture. “It seems silly, for fear of being embarrassed, to not at least sit at the table with Jay Z, Kanye [West] and Daft Punk,” Butler said, “and talk about art and music and how it’s going to be distributed.”

The Reflektor Tapes has already premiered at the Toronto Film Festival. It will land in theaters on Sept. 23.