As we reported last night, the streaming service JAY Z acquired, now referred to as “TIDAL,” launched today, March 30.
In celebration of its launch, today in New York City, there was a very star-studded press conference / launch event.
By star-studded, we mean Beyoncé, JAY Z, Kanye West, Rihanna, Nicki Minaj, Usher, Coldplay, Madonna, Alicia Keys, and many many more were not only in attendance, they signed the service’s declaration LIVE.
One of TIDAL’s selling points, that is excluding the fact that is “combines the best High Fidelity sound quality, High Definition music videos and expertly Curated Editorial,” is that is is owned by artists.
In other words, Madonna, Rihanna, Kanye West, Beyoncé, Rihanna, and all the other artists who were in attendance, own a stake in the company. Billboard reports all 16 owners were given 3% stock of the company as a gift from the man behind the vision, JAY Z.
Regarding the service’s pricing backlash, JAY Z states: “People are not respecting the music, and devaluing what it really means” he said, continuing “People really feel like music is free, but will pay $6 for water. You can drink water free out of the tap and it’s good water. But they’re okay paying for it. It’s just the mindset right now.”
In the event that you missed the press conference, watch the whole thing below!