Jay Z wants the world to know his new streaming service is "doing just fine." The rapper tweeted today, April 26, details of Tidal under hashtag, #TidalFacts.
The rapper prepped his Twitter followers for his stream of #TidalFacts by tweeting,
"Stream of consciousness coming in 5,4,3,2...#TidalFacts."
He then kicked off the Tidal conversation stating: "Tidal is doing just fine. We have over 770,000 subs. We have been in business less than one month. #TidalFacts."
Jay Z didn't end it there. He continued by reminding his followers that the iTunes Store wasn't built in a day. He also went into an explanation of how this new streaming service will really work. He claimed that Tidal was created for the fans and pays 75 percent royalty rate to all artists, writers and producers. He makes a clear distinction that the founding members "on stage," referencing his wife Beyoncé, Alicia Keys, Madonna and Rihanna, to name a few, would not be the only people benefiting from this service.
Jay Z also shot down the notion that Tidal is aimed to allow the rich to get richer.
"Rich getting richer? Equity values... YouTube $390 billion. Apple $760 billion. Spotify $8 billion. Tidal $60 million. #TidalFacts."
Tidal was debuted March 30. Jay Z acquired Swedish company Aspiro, the parent company to Tidal and WiMP earlier in March.
In an interview with Billboard back in March, Jay Z shared his inspiration for starting the streaming service.
"People are not respecting the music, and devaluing what it really means," Jay Z told Billboard. "People really feel like music is free, but will pay $6 for water. You can drink water free out of the tap and it's good water. But they're okay paying for it. It's just the mindset right now."
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