Square to Buy Majority Stake in Jay-Z’s Tidal Music Streaming Platform

[marty]

Square to Buy Majority Stake in Jay-Z’s Tidal Music Streaming Platform

The San Francisco payments company said Jay-Z will join its board as part of the $297 million cash-and-stock deal, and Tidal’s current shareholders will remain co-owners.

www.wsj.com

 

[marslo]

Thank you, good to know.

 

[Blue58]

Not much interest in this from our community, but there should be as it could alter the whole music business fo years to come.

Example. Streaming doesn’t reward an artist with very much money unless you’re into the billions of streams and then it probably pays the electric bill on your mansion. So in order to recoup outgoings and make a fortune you need to monetise your digital assets. Physical media is so last century, no one under 30 is buying the stuff (ok maybe an exaggeration).

An artist now has the opportunity to release unique or special events such as a Covid lockdown performance and charge a fixed amount to listen rather than release onto YouTube or a streaming platform. Special releases will attract listeners and remember these are not downloads. Think of them as online concerts, a one off event for the listener.

Second scenario, the artist releases a digital album and sells NFTs of the work limiting it to say 50k. These can then be traded at a later date, similar to limited edition vinyl with the chance of the value increasing, but the advantage for the artist is their ‘Stock’ goes up in price. The artist benefits not just the seller/scalper.

Music finally becomes tradable. Less recognisable artists get rewarded for their efforts. Big acts eventually become even richer. And, the music consumer pays even more money for product.

Link all this together on a platform that allows you to buy merchandise, tickets or online events and that’s a pretty big step forward.

It does leave our niche hobby to gradually wither and die as we all must.

I may not have thought it all through but we may be seeing the start of something very significant that may ride alongside the big three streaming platforms.

Just reading an article on Pitchfork that says musicians already on the NFT bandwagon.
https://pitchfork.com/thepitch/why-do-nfts-matter-for-music/

cheers
Blue58

 

[Mikem53]

Not much interest in this from our community, but there should be as it could alter the whole music business fo years to come.

Example. Streaming doesn’t reward an artist with very much money unless you’re into the billions of streams and then it probably pays the electric bill on your mansion. So in order to recoup outgoings and make a fortune you need to monetise your digital assets. Physical media is so last century, no one under 30 is buying the stuff (ok maybe an exaggeration).

An artist now has the opportunity to release unique or special events such as a Covid lockdown performance and charge a fixed amount to listen rather than release onto YouTube or a streaming platform. Special releases will attract listeners and remember these are not downloads. Think of them as online concerts, a one off event for the listener.

Second scenario, the artist releases a digital album and sells NFTs of the work limiting it to say 50k. These can then be traded at a later date, similar to limited edition vinyl with the chance of the value increasing, but the advantage for the artist is their ‘Stock’ goes up in price. The artist benefits not just the seller/scalper.

Music finally becomes tradable. Less recognisable artists get rewarded for their efforts. Big acts eventually become even richer. And, the music consumer pays even more money for product.

Link all this together on a platform that allows you to buy merchandise, tickets or online events and that’s a pretty big step forward.

It does leave our niche hobby to gradually wither and die as we all must.

I may not have thought it all through but we may be seeing the start of something very significant that may ride alongside the big three streaming platforms.

Just reading an article on Pitchfork that says musicians already on the NFT bandwagon.
https://pitchfork.com/thepitch/why-do-nfts-matter-for-music/

cheers
Blue58

Maybe this is averages working out.. The times when music was on vinyl, then sold again on 8 track, then again on cassette, CD, downloads... I was one who bought same music several times in search for a better quality medium..

 

[XV-1]

Jay Z just sold out at the right time .

When Spotify hifi is released, Tidal will be dead.

Great business decision

 

[wil]

I'm sure it's pretty complicated, but from what I've read, it's the Labels that take the lion's share of the profits from music streaming -- not the streaming service, not the artist-- but the middleman. This kind of lopsided profit distribution exists because artists typically start out (and remain poor) in a system structured where they "need" the labels.

 

[Ron Resnick]

It does leave our niche hobby to gradually wither and die as we all must.

Why is this?

 

[Blue58]

Why is this?

Can’t see any youngsters getting into audio apart from a few latching onto the retro bandwagon. Witness the legacy product selling. No need for another lengthy discussion here, there’s plenty on the web already.

 

[Blue58]

This could be the first offer as mentioned above, though Grimes made $6m from selling artwork already.
Kings of Leon https://www.yellowheart.io/

 

[Lagonda]

Covid lock-down performances might have some traction in these non concert days, but i doubt many will pay for a one time digital event once real concerts are played again. And lets not forget that one of the reasons "youngsters" are into streaming and YouTube is the low cost, having the option between a platform that pays the artist (relative) well and something cheaper(or free) the majority choose with their wallet, not their conscience.

 

[christoph]

Covid lock-down performances might have some traction in these non concert days, but i doubt many will pay for a one time digital event once real concerts are played again. And lets not forget that one of the reasons "youngsters" are into streaming and YouTube is the low cost, having the option between a platform that pays the artist (relative) well and something cheaper(or free) the majority choose with their wallet, not their conscience.

I agree with you completely