Jay Z says his Tidal music service is doing simply fantastic, thanks

Jay Z says his Tidal music service is doing just fine, thank you

Jay Z re-launched Tidal with loads of fanfare, however how properly is his artist-owned streaming service doing up to now? Simply superb, for those who ask the person himself. As a part of a flurry of Twitter posts, Mr. Carter revealed that Tidal has “over 770,000″ subscribers thus far. He additionally scoffs at the concept Tidal is solely about pampering rich artists who need a bigger reduce — the rapper argues that Tidal’s $60 million in fairness worth pales compared to the billions in musical internet value at rivals like iTunes and Spotify. Each artist on Tidal will get a seventy five % royalty fee, Jay Z says, not simply these with a direct stake.

Tidal is doing simply superb. We have now over 770,000 subs. We now have been in enterprise lower than one month. #TidalFacts

– Mr. Carter (@S_C_) April 26, 2015

Tidal pays seventy five% royalty fee to ALL artists, writers and producers – not simply the founding members on stage.

– Mr. Carter (@S_C_) April 26, 2015

In fact, the stats do not inform the complete story. It isn’t clear what number of of these clients have been round earlier than Tidal’s star-studded reboot, and the way shortly the corporate is rising. And whereas 770,000 customers is respectable quantity for a fledgling operation, it is a drop within the bucket in comparison with incumbents. Spotify has 15 million paying clients finally verify, for instance. Jay Z is not fazed by the numbers, although. He is fast to notice that it took years for the established on-line music providers to get as massive as they’re immediately, so there’s little doubt that he is within the streaming enterprise for the lengthy haul.

[Image credit: Elsa/Getty Images]

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Jay Z says his Tidal music service is doing just fine, thank you

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