Earlier this year Jay-Z and his billionaire artist friends set out to save the record industry (themselves) from falling profits. Their answer? A streaming music service with a “superior” sound quality that no one needs to a price that no one wants to pay.
It was no surprise to read on Bloomberg that Tidal is in trouble. Surely this couldn’t have come as a surprise to anyone with the slightest business sense? Read the article for yourselves here.
Music streaming service Spotify has been key to revolutionizing a music industry where labels and artists for a long while were plagued by piracy (MP3s anyone?). It’s recipe has been fairly simple; offer people a relatively cheap, legal, way of consuming all the music they need. It’s a win-win situation right? The consumer gets his or her needs fulfilled and the music labels gets a fair pay for their offering.
The win for the record industry doesn’t seem satisfactory however, why Jay-Z in colaboration has decided to start a competing service with a seemingly slightly higher price point (starting at $9.99/mo). Time will tell how they succeed, in the meantime have a look at what Tidal is about here.