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Jay Z's new music streaming app flops

By Germaine Benson
1/5
Jay Z's new music streaming app flops
Jay-Z releases new music streaming app, Tidal. File Photo by John Angelillo/UPI | License Photo

NEW YORK, April 22 (UPI) -- Apparently everything Jay Z touches doesn't turn into gold.

The rapper's new music streaming app, Tidal, fell out of the iTunes 700 list only two weeks after its release.

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Jay Z brought the who's who in music like Beyoncé, Madonna, Rihanna, Kanye West, Usher, Alicia Keys, Arcade Fire's Win Butler and Régine Chassagne, Daft Punk, Chris Martin, Calvin Harris, Nicki Minaj, Jack White, Jason Aldean, Deadmau5 and J. Cole together to launch the new app. But the star power quickly burned out when the app fell from the top 20 download chart and out of the top 700, BGR reports.

Pandora and Spotify are currently Tidal's main competitors still ranking in the U.S.top 20 list. Beyonce's husband wanted to change the way artists were getting stiffed out of money due to how these other music streaming giants work. Instead of making the app free with the option to upgrade an account, E! News reports that Tidal users have a choice between paying $10 a month for digital audio-quality (a compressed format similar to what you get with Spotify) or $20 a month for CD-quality sound.

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Earlier this year Jay Z acquired Tidal's Swedish parent company, Aspiro, for $56 million. The vision for his new music app: "the first music streaming service that combines the best high fidelity sound quality, high definition music videos and expertly curated editorial."

The company is already refocusing its infrastructure by laying off 25 employees, including the CEO Andy Chen. Business Insider reported that a statement was released by the company stating: "We've eliminated a handful of positions and refocused our company-wide talent to address departments that need support and cut redundancies."

This setback is nothing the rapper can't just brush off his shoulders.

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