(AllHipHop News) Jay Z’s bid to purchase Aspiro was approved earlier this month, and the company’s streaming service, now known as TidalHifi, is set to launch. The current Tidal website includes a counter that indicates listeners will be able to use the app in 5 days.
A message on the site reads:
Introducing the first music streaming service that combines the best High Fidelity sound quality, High Definition music videos and expertly Curated Editorial.
The hi-fi service is said to offer 25 million tracks for streaming with lossless audio quality. Recommendations, playlists, interviews, and other features are also part of the Tidal experience. Music fans can try out the service with a 7-day free trial. The monthly rate is listed at $19.99.
There have been reports that Jay met with several high-profile entertainers including Beyoncé, Madonna, Rihanna, Kanye West, Nicki Minaj, Daft Punk, Chris Martin, and Jack Black to discuss his vision for Aspiro/Tidal. The meeting supposedly focused on artists’ rights and the performers’ ability to profit from the streaming of their music.
Revenues from streaming surpassed CDs for the first time in 2014. Subscription streaming from services such as Spotify and Rhapsody totaled $1.87 billion as compared to $1.85 billion for CD sales. Streaming’s revenue rose 29% from 2013 while CDs fell 12.7%
Some artists have complained the profit sharing from streaming is too heavily tilted toward the music labels and the streaming services. Taylor Swift pulled her music from Spotify last year, because the pop superstar felt her art was not being properly valued through the free service. Swift’s music is included on Tidal.