(MENAFN- The Peninsula) Rap mogul Jay Z on Monday launched the rebranded Tidal music streaming service with major star backing, hoping to shake up the growing industry through high sound quality and artist control.
With veiled swipes at streaming leader Spotify, Jay Z brought out musicians including Madonna, Kanye West and the masked electronic duo Daft Punk, who will all be equity partners in the new Tidal.
Jay Z earlier this year bought Tidal, which markets itself to audiophiles, by spending $56 million for its Swedish-listed parent company Aspiro.
At the announcement in New York, singer Alicia Keys hinted that some musicians could choose to release material exclusively or early on the artist-owned service.
"Tidal is dedicated to cultivating a sound business enterprise that promotes the health and sustainability of our art and our industry around the world," Keys said.
"We believe it is in everyone's interest - fans, artists and the industry as a whole - to preserve the value of music and to ensure a healthy and robust industry for years to come."
Tidal released a promotional video in which musicians accused unnamed streaming companies of treating them as mere commercial products.
"They are the carrier; we are the artists. Somehow things shifted and we went into the background, and it has to come forward," Madonna said.
- Focus on quality -
Other artists who will be shareowners in Tidal - with the exact financial details not disclosed - include Jay Z's wife Beyonce, rocker Jack White, Coldplay's Chris Martin, rapper Nicki Minaj and R&B singer Rihanna.
Tidal said it was also working on the relaunch with Sprint, one of the major US cellular providers, which is owned by Japan's Softbank.
The artists signed a declaration to the sounds of Radiohead, the British experimental rockers who along with Taylor Swift have accused Spotify of devaluing music through meager payouts to artists.
Spotify has rejected the accusations, saying that it is a rare source of growth in music sales and has paid out $2 billion toward artists since 2007.
Streaming - which allows users to play unlimited on-demand music online - has quickly shaken up the industry, narrowly edging out CD sales in revenues last year in the United States.
Spotify, also from Sweden, says it has 60 million users with 15 million of them paying - generally $9.99 a month.
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