Business & Finance

Jay-Z’s New Business Off to Slow Start

On March 30, 2015, Jay-Z released his TIDAL website which has been in the making since October.  This website is for streaming quality audio and high definition music videos.  He believes this is a whole new experience for online music streaming.

Jay-Z reports to The Muse that “TIDAL is for all, but not everybody.”   He continued to discuss that this process is exactly like Spotify and Beats Music.  “We won’t know until real people start testing it out,” Jay-Z stated as he discussed his new business.

For the release party, Jay-Z had many other respected artists come out and help him present.  People like Usher, Kanye West, Rihanna, and many more celebrities came to support the new business.

People have made the assumption that this website is the same as Spotify.  However, TIDAL  does not have a free subscription, and it is made by artists.  In an interview Jay-Z had with Billboard, he explained that “it’s about the future of the music business.”

Unfortunately, things haven’t been going too well for this company.  More and more people continue to download music illegally because it is free.  However, this causes less money to go to the artist for the music.

Because there is no free subscription for TIDAL,  people do not want to try it.  This has caused the website and app to drop very low.  Many people do not have faith that it will work.

Jay-Z believes in his idea and thinks that it can become a huge success.  He came up with an idea to save his company.  He announced that he will be playing a private concert to support the business.

According to The Verge, Jay-Z talked about how he is planning to perform songs that have never been performed before or haven’t been performed in decades.  This concert will be held in New York on May 15.

Jay-Z hopes that the concert will bring awareness to TIDAL.  He also believes that the concert will gain more users for the new website.  According to Jay-Z, “TIDAL is here for the long haul.”

Jay-Z announced that TIDAL users need to follow some guidelines in order to get a free ticket for the concert.  Before May 8, users must create a playlist and upload it to twitter.  While making the tweet, users must also use #TIDALXJAYZ.

Jay-Z tweeted that he will pick a winner based on how diverse the artists and genres are in the playlists.  There is no doubt that Jay-Z will continue to work hard for his new business.

Categories: Business & Finance