Evaluating 11 Of Jay Z’s #TIDALFacts
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iTunes Wasn’t Built In A Day
No, iTunes wasn’t built in a day, but during the week of May 5, 2003, iTunes sold over one million songs in seven days. According to a report from Business Insider, Spotify has lost $200 million since launching in 2006. If those number hold up, TIDAL might crash against the shore of what some think is an inherently unprofitable streaming industry.
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We Made TIDAL For Fans
Based on ‘Hov’s own statements at the TIDAL press conference, this is false. He was paraphrased as saying the existing business model was broken. Now the part about TIDAL offering video, exclusive concerts, tickets, and sporting events is true. You’ve likely already seen some of the TIDAL exclusives so far.
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Indie Artists Keep 100% Of Their Music
Well, they do if they’re using “TIDAL Discovery.” Unlike Spotify and other competitors, independent artists don’t have to use a third party to get their music on TIDAL. They can directly upload it.
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TIDAL Pays All Artists A 75% Royalty Rate
Are we talking about the total amount of revenue that TIDAL would hypothetically distribute to participating artists? Are we talking about the type of royalty rates that iTunes has traditionally taken a large cut of? This could be a #TIDALFact, or it could be some cleverly worded double-speak.
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TIDAL Has A $60 million Equity Value
Given that Jay Z’s winning bid was publicly disclosed this is true. In the game of streaming services, it definitely ranks as the lowest equity value. That’s not a shot, it’s just basic math. #FactsOnly and such.
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TIDAL Is Where Artists Give Fans More Without Middlemen
We don’t believe you…you need more people. In 2015, an artist can directly interact with fans via Instagram, YouTube, Twitter, LiveStream, and other ways. Ask Taylor Swift. If we’re being technical, TIDAL is kind of the middleman, although Jay Z is positioning it as a better, fairer middleman.
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We have TIDAL X
Yes, TIDAL X is a thing that exists. It’s impossible to quantifiably measure a fan’s loyalty, but maybe loyal fans who happen to be lucky and also willing to pay more for limited access via TIDAL X will get to “connect” with an artist.
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We Aren’t Perfect – But We Are Determined
Jay is infamous for saying “I will not lose.” He also put up $60 million, so no one can say he and his team aren’t determined to try and make TIDAL a success.
