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Music's biggest stars including Jay Z, Kanye & Beyonce unite to launch Tidal streaming service

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The new music streaming service Tidal, being driven by Jay Z, was launched yesterday to huge fanfare. Huge stars such as Beyonce, Kanye West, Nicki Minaj, Rihanna, Daft Punk, Alicia Keys, Chris Martin, Usher and Acade Fire all have put their weight behind the service which will be 100% artist owned.

All the stars signed a "declaration" regarding their participation which paints Tidal as "an artist majority owned company with a mission to reestablish the value of music and protect the sustainability of the music industry rooted in creativity and expression." It has been rumoured that Jay Z has given each of the megastars on board a 3% stake in the company in return for exclusive rights to all their future content.

Tidal is certainly joining the music streaming industry quite late in the game as services like Spotify, Google Play Music and Rdio long being established players in the market. It is being heralded as a a sort of music by the people, for the people style platform to take art away from greedy corporations and reward artists for being creative once again.

A blurb on the Tidal website boasts that the service will offer Hi Fidelity Music Streaming along with a description of the service which reads "Seamless listening across mobile, tablet, desktop and network players. Enjoy lossless music streaming on Apple devices from iPhone, iPad and iPod to Mac, as well as on PC and Android systems".

It remains to be seen whether or not Tidal will be a game changer or simply a place where the cream of the crop release their music exclusively thus separating them from the rest of the music industry in an elite fashion. Tidal currently boasts approximately half a million users worldwide and the service currently costs $20 per month for unlimited access to content. This is a high price point for the industry and currently sits about double the amount that Spotify charges customers for its' Premium service.

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