Yesterday, a number of famous, wealthy musicians the world has ever known gathered to make an offer to the world.
The offer came from Jay Z, Beyoncé, Rihanna, Madonna, Jack White, Kanye West and Daft Punk, among others.
Their offer is a streaming service developed by Jay Z, which would do pretty much what Spotify does for free. But, at $10-per-month for compressed formats and $20-per-month for CD-quality streams.
Tidal will be owned by artists who get shares in the company in exchange for granting it the exclusive right to play their music.
“People are not respecting the music, and [are] devaluing it and devaluing what it really means,” Jay Z said.
The hashtag #TIDALforALL quickly became the depository for off-the-cuff irony about the need for a new way to listen to music that only serves the 1 percent.
Tidal is not Spotify’s only potential competitor. Apple, now owner of Beats, will be launching a streaming service and don’t forget about Rhapsody and Google Play Music, among many others.