6/19/2023 0 Comments Square tidal jayzTidal got an initial boost from exclusive access to new music from Jay-Z, Beyoncé and Rihanna, among others. They announced their vision for the service at a New York City media event where Alicia Keys declared that this moment would change music history. The rapper recruited more than a dozen of the biggest artists in the world, including Rihanna, Kanye West and Calvin Harris, as co-owners. For instance, Spotify Technology has built a multibillion-dollar business using music created by millions of artists, many of whom are struggling to make ends meet.īut Jay-Z didn’t align himself with any paupers. Musicians have long complained about record labels exploiting them, and that frustration hasn’t abated as they’ve transitioned to having relationships with streaming services. Jay-Z acquired Tidal for $56 million in 2015 and announced plans to turn it into the first artist-owned streaming service. “Artists sell tickets, they sell special experiences,” he said. Some obvious examples would include helping musicians run their merchandise businesses. “There was a real opportunity at this intersection of music and art and the economy that was uniquely made for the pair of us,” Dorogusker said. It’s not immediately clear how Square will help Tidal build its business, but there is a lot of overlap between the music industry and Square’s existing market, which includes payments and commerce, said Jesse Dorogusker, the Square executive who will serve as interim leader of Tidal inside its new parent company.
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