At a groundbreaking press conference in New York City today, Jay Z was joined by a huge group of musical superstars to announce the official relaunch of TIDAL, the streaming music service he recently acquired as part of a blockbuster $56 million deal. Joining Jay Z onstage and as owners of the service were Beyonce, Rihanna, Coldplay, Alicia Keys, Daft Pank, Nicki Minaj, Calvin Harris, Jack White, Madonna, Arcade Fire and Deadmau5.
The new service is intended to be of higher quality than most other streaming services and is also meant to restore the value to music by launching a service owned by artists. Services like Spotify have been criticized by artists for only paying a fraction of the rights to stream their music. TIDAL is intent on changing this and more.