Title: Jay Z aims to
topple Spotify with music streaming service Tidal
Summary:
Jay Z while being backed by a
roll call of A-list friends is fronting the re-launch of a music streaming
website heralded as the first real challenger to Spotify. Kanye West, Rihanna, Coldplay, Madonna,
Alicia Keys, Beyoncé are some of the stars that have unveiled the new
look for Tidal, a streaming site originally launched by Norwegian firm Aspiro
in October 2014 and acquired for $56m earlier this month by a company
controlled by the music mogul.
Facts/Phrases:
Ø Tidal
will compete with Spotify and upcoming streaming services from Apple and YouTube by
offering exclusive music from prominent artists, including studio sessions and
demo tracks, while giving them new ways to communicate with fans.
Ø Musicians
including Beyoncé, Deadmau5, Nicki Minaj and Jack White replaced their Twitter
profile pictures with blank blue images while tweeting the #TIDALforALL hashtag
ahead of the event in a show of online support.
Ø Tidal’s
key selling point so far has been its “lossless” quality streams, for which the
company charges a monthly subscription of £19.99 – double its rivals. It is
available in 31 countries, with six more to follow by the end of June.
Ø By
the end of 2014, Tidal had 500,000 paying users. It will launch a £9.99
subscription model alongside its existing one.
Opinion:
In my opinion, this article shows
how new and digital media gives rise to newer competitors, especially since
Spotify is the leading music applications.
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