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The streaming music sector got a bit busier recently as music mogul Jay-Z entered the fray with his option called Tidal. Tidal was initially launched in 2014 by Swedish/Norwegian firm Aspiro, which was acquired by Jay-Z earlier this year, paving the way for a large-scale marketing campaign and a star-studded news conference in March to “reintroduce” the service to music fans.
Jay-Z’s acquisition of Tidal follows on the heels of the September launch of GhostTunes by country star Garth Brooks, further intensifying competition in a sector where some artists believe they are getting the short end of the deal.
Will the move put more pressure on companies like Spotify to look again at their business models? Wharton marketing professor Peter Fader and Errol Kolosine, an arts professor at New York University, appeared on the Knowledge@Wharton radio show recently to discuss what’s next for Tidal and for the streaming sector. The K@W show airs 10 a.m.-12 p.m. Eastern time Monday-Friday on Wharton Business Radio on SiriusXM channel 111.