Artist-owned streaming service TIDAL promises to “re-establish the value of music”

Consequence of Sound

This afternoon, Jay Z formally launched his new streaming music service TIDAL with an all-star event in New York City. As it turns out, Jay Z is merely a co-owner: Arcade Fire’s Win Butler and Régine Chassagne, Kanye West, Jack White, Daft Punk, Beyoncé, Chris Martin of Coldplay, RihannaMadonna also have ownership interests in TIDAL.

All these artists were at hand for today’s event and showed their commitment by signing a declaration on-stage.

TIDAL is described as a “platform owned by artists” with the goal “to re-establish the value of music.” Speaking on behalf of the group, Alicia Keys explained, “We want to create a better service and experience for fans and artists. Our mission goes beyond commerce and technology.”

Update: Jay Z spoke to Billboard about his vision for TIDAL. Read below.

A video proceeding the event featured footage from a recent summit in which the owners…

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