New streaming music service puts performers and artists in charge

As Jay Z sees it, there is a clear solution to the problems facing musicians in the streaming age. They should band together – behind him, of course.

The rap star and entertainment mogul has announced his plans for Tidal, a subscription streaming service he recently bought for $56 million. Facing competition from Spotify, Google and other companies that will soon include Apple, Tidal will be fashioned as a home for high-fidelity audio and exclusive content.

But perhaps the most notable part of Jay Z’s strategy is that a majority of the company will be owned by artists. The move may bring financial benefits for those involved, but it is also powerfully symbolic in a business where musicians have seldom had direct control over how their work is consumed.

Madonna, Rihanna, Beyonce and Jay Z are among the A-List musicians who are co-owners of Tidal.

The membership-based service – similar to subscription service Spotify – will provide music and video content that users can stream on computers, tablets and smartphones or listen to offline. It is being offered at two prices: $10 for standard sound quality and $20 for “lossless high fidelity sound quality.”

Kanye West, Daft Punk, Alicia Keys, Jack White and Nicki Minaj also were among the artists who announced at a New York City event Monday that they are co-owners of the service that quietly launched in October. Keys said the artists hope Tidal will “forever change the course of music history” and ensure the viability of the industry.

The celebrities – who also included Jason Aldean, Usher, members of Arcade Fire and deadmau5 – stood in a line onstage as Keys spoke to the audience at Skylight at Moynihan Station in Manhattan. Most of them wore black as a sign of solidarity. Keys called the event “a graduation.”

Coldplay’s Chris Martin and Calvin Harris, who both appeared via video, are also co-owners.

“Our mission goes beyond commerce, it goes beyond technology,” Keys said. “Our intent is to preserve music’s importance in our lives. Music is the language of love, of laughter, of heartbreak, of mystery. It’s the world’s true, true, without question, universal language.”

This story was originally published April 2, 2015 at 10:58 PM with the headline "New streaming music service puts performers and artists in charge."