Via: Market Watch
Today the music mogul know as Jay Z has just re-launched a previously little-known music-streaming service called Tidal at half the cost and in partnership with more than a dozen popular artists. These artists include Rihanna, Usher, Kanye West, Jason Aldean, Madonna and Coldplay.
This may be a risky move for Jay-z as the tension better streaming service and artist have continual worsens over the years.
The rapper and entertainment mogul bought Tidal for $56 million, and he re-launched the service late Monday as an artist-owned music-streaming service with a quality of music, he said, which tops that offered by chief rival Spotify.
Recent data from the Recording Industry Association of America suggested that streaming and downloads now account for a vast majority of the market. The number of paid subscriptions to on-demand music services in the U.S. has more than tripled since 2011, according to the report.
In 2014, overall paid subscriptions for on-demand streaming services grew 26% to 7.7 million, according to RIAA. Together, digital downloads and streaming now account for 64% of total music-industry revenues, while physical music sales have slumped to just 32%.
Tidal will cost $19.99 if users want higher-quality streaming through an audio format known as “lossless,” or $10 a month for the regular service. Let’s see if people want quality.