Following the [pretty bizarre] announcement of Jay Z‘s new streaming service Tidal last month, reports have come back less-than-stellar about its performance. After barely breaking into the top 20 apps on iTunes before falling way below the 700 mark, their CEO was kicked out in a “streamlining” move, Spotify and Pandora are now surging because of the free press and they are receiving less than one million streams daily. However, what we do need to recognize is Rome wasn’t built in a day, and Jay wants fans to know – he’s in it for the long haul.
“Tidal is doing just fine,” Jay told Twitter over the weekend. “We have over 770,000 subs. We have been in business less than one month. The iTunes Store wasn’t built in a day. It took Spotify 9 years to be successful…”
We are here for the long haul. Please give us a chance to grow & get better. There are many big companies that are spending millions on a smear campaign. We are not anti-anyone, we are pro-artist & fan. We made Tidal for fans. We have more than just music. We have video, exclusive concerts, tickets for events early, live sports!… Tidal is where artists can give their fans more without the middlemen. Indie artists who want to work directly w/ us keep 100% of their music. “If you don’t want the CEOs all in the videos” haa Tidal pays 75% royalty rate to ALL artists, writers and producers – not just the founding members on stage. Rich getting richer? Equity values… YouTube $390 billion. Apple $760 billion. Spotify $8 billion. Tidal $60 million. My cousin just moved to Nigeria to discover new talent. Tidal is a global company. We have Tidal X – it supports artists by giving them a platform to connect with their most loyal fans. Tidal is for all. Our actions will speak louder than words. We made Tidal to bring people the best experiences…and to help artists give that to their fans over and over again…We are human (even Daft Punk ha). We aren’t perfect – but we are determined.
So there you have it! Do you think he made some good points, or is Tidal more like a little ripple?