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Concept
Tidal (service)
Summary
Tidal (stylized in all caps) is a Norwegian-American music streaming service, launched in 2014 by Swedish public company Aspiro. Tidal is now majority-owned by Block, Inc., an American payment processing company that is owned by Jack Dorsey and Jim McKelvey.
With distribution agreements with all three major record labels and many independent labels, Tidal claims to provide access to more than 80 million tracks and 350,000 music videos. It offers two levels of service: Tidal HiFi (up to CD quality – FLAC-based 16-bit/44.1 kHz) and Tidal HiFi Plus (up to MQA – 24-bit/352.8 kHz). Tidal claims to pay the highest percentage of royalties to music artists and songwriters within the music streaming market.
In March 2015, Aspiro was acquired by Project Panther Bidco Ltd., which relaunched the service with a mass-marketing campaign, promoting it as the first artist-owned streaming service. In January 2017, Sprint Corporation bought 33% of Tidal for a reported 297 million for majority ownership of Tidal. In June, 2022, through the disclosure of the Annual Stockholder Meeting 2022, Block reported that the stake acquired in the Tidal music service was 86.8%.
While some observers praised the high-fidelity audio quality, and higher subscription fees that would result in higher royalties to the artists and songwriters, others felt the high subscription fees and exclusive Tidal content from the artists involved could lead to more music piracy. Tidal claimed to have over 3 million subscribers in 2016, although the veracity of those claims and the company's reported streaming numbers have been questioned. , Tidal operates in 61 countries.
Branching off from WiMP, which was launched in Norway in 2010 and later available in Sweden, Denmark, Germany, and Poland, Aspiro launched the Tidal brand in the UK, the US, and Canada on October 28, 2014. The launch was supported by Sonos and 15 other home audio manufacturers as integration partners.
Official source
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