Rapper and music mogul Jay-Z launched Tidal today, the high-definition music streaming service he acquired earlier this month.
The company is reportedly making moves to be the first to stream new releases from big names like Beyonce, Kanye West, Daft Punk, Madonna, Arcade Fire and Calvin Harris.
All these musicians have one thing in common: the Jay-Z connection. His Roc Nation agency works with a lot of artists providing publishing, label, management and other services. Tidal is becoming one more business to add to the one-stop music distribution shop that is Roc Nation.
Tidal plans to ink first-window deals with artists by getting tracks before any other digital streaming service. This would be exclusive but only for a certain period of time. Spotify and Deezer would eventually gain access tracks too.
The streaming service is trying to stand out from the rest by offering musicians an appealing set of terms. The company is often agreeing to pay up to twice as much as its rivals.
Right now, Tidal only has 35,000 paying subscribes paying $19.99 per month across different markets compared to the 15 million paying subscribes Spotify announced they had in January.
Jay-Z paid $54 million to Aspiro shareholders to acquire Tidal earlier this month but the shares will not transfer until mid-April.