Jay Z Delivers ‘Tidal Facts,’ Confirms Company ‘Is Doing Just Fine’
Jay Z’s new streaming service TIDAL has received a tidal wave of criticism since its launch nearly a month ago. On Sunday (April 26), Jay went on Twitter to defend his company and share some facts on his still burgeoning streaming platform.
Despite having massive star power behind it, TIDAL has taken a hit. According to BGR, when the app debuted in late March, it entered into the Top 20 of the U.S. iPhone Apps chart. As of right now, it’s fallen out of the top 700, and critics are now calling TIDAL a total flop.
However, Jay Z is adamant that TIDAL will become a popular and profitable streaming service, according to his "stream of consciousness" address of #TIDALFacts on Twitter.
"Tidal is doing just fine. We have over 770,000 subs. We have been in business less than one month. #TidalFacts," he tweeted. "The iTunes Store wasn't built in a day. It took Spotify 9 years to be successful. We are here for the long haul. Please give us a chance to grow & get better."
Jay Z contends that TIDAL was made for artists and fans. Unlike the other streaming services, all of the artists on TIDAL get a 75 percent royalty rate. "Rich getting richer? Equity values...YouTube $390 billion. Apple $760 billion. Spotify $8 billion. Tidal $60 million. #TidalFacts," he tweeted.
In the end, Jay Z reiterates that TIDAL is a global company for both fans and artists. It's going to take some adjustments, but the rap mogul feels that his streaming platform will push through the economic hurdles and become a top-tier company.
"Our actions will speak louder than words. We made Tidal to bring people the best experiences," he writes. "And to help artists give that to their fans over and over again."
"We are human (even Daft Punk ha). We aren't perfect -- but we are determined. #TidalFacts," he finished.
What do you think of Jay Z's new streaming service TIDAL? Tell us in the comments below.