Third Man Records, Arcade Fire + More Show Support for Jay-Z’s Tidal Streaming Service
Following the revelation that Taylor Swift gave Jay-Z’s recently acquired Tidal streaming service the rights to her entire catalog after she pulled it from Spotify, a host of other artists are showing support for the platform just ahead of its press conference promising a major announcement later today, March 30. Arcade Fire, Jack White’s Third Man Records, Coldplay, Madonna, Kanye West, Beyonce and more have all taken to Twitter to turn their profile pictures blue and share the hashtag “Tidal for All”:
After purchasing Tidal’s parent company, the Sweden-based Aspiro, earlier this month, Jay-Z is set to officially relaunch the streaming platform today with a press conference scheduled for 5PM ET. In a statement, it was promised that Jay-Z would “announce a commitment to a new direction for the music industry from both a creative and business perspective” (via TechCrunch) during the presser.
If rumors prove true, Tidal will share the names of artists who will give exclusive streams and new releases to the platform before its competitors, notably Spotify and the now Apple-owned Beats Music.
While it may seem like Jay-Z is simply recruiting friends, family and collaborators to back his recent venture, Tidal is reportedly offering more competitive and lucrative terms -- including a purported two times the payout of its competitors -- to artists who are increasingly discouraged by minuscule revenue from streaming services while watching the steady decline of album sales.
In addition to the sway of big-name artists, exclusive releases and fairer compensation, Tidal is also marketing itself toward a niche demographic of audiophiles who will be interested in paying more (a monthly Tidal subscription goes fro $19.99 per month compared to Spotify’s $9.99) for the service’s high-quality, lossless sound files.