It was close to one year ago when it was announced that Apple purchased the Dr. Dre and Jimmy Iovine-owned Beats Electronics and Beats Music for over $3 billion. Apple’s Beats music service hasn’t even went public yet and already has another aspiring competitor.
According to the New York Post, Jay Z’s music subscription/streaming service, TiDAL, is looking to provide a service where it exclusively stream’s music from a number of artists, for a bigger pay cut than those before.
“Jay Z’s whole approach is, they’re created by artists, supported by artists. The more players, the better,” a label executive said while speaking to the New York Post.
“He’s disrupting Apple’s venture,” another person added.
Although Tidal is already available to users for $20 a month, Jay Z’s press conference introduction — along w/ Alicia Keys, Arcade Fire, Beyonce, Calvin Harris, Chris Martin of Coldplay, Nicki Minaj, Rihanna, Kanye West and Madonna — last week has risen the company to levels it couldn’t fathom.
Shares of Aspiro, the streaming company that actually owns Tidal, rose an outstanding figure of 938% yesterday, according to the good folks over at Reuters. And this w/o any actual promotion.
I’m not really a fan of TiDAL or any other music service besides Spotify, but numbers don’t lie. They’re on the come up.
