Jay-Z`s Tidal preparing to take on Spotify

Jay-Z bought music streaming service Tidal this year for a cool $56 million and is preparing the service for a relaunch. Naturally, it has Spotify square in its sights.

Quite a number of artists are signing on to the service. Coldplay, Rhianna, Beyonce, and Kanye West have been lending their support with the #TIDALforALL hashtag. Most notable is reports that Taylor Swift has signed up to Tidal after becoming disillusioned with Spotify and its reimbursing of artists.Reimbursing artists to their liking comes at a cost. Tidal has no free option available. A Tidal Premium account, which gets you access to standard sound quality, high definition music videos, -and expertly curated editorial costs $9.99 per month. Meanwhile, Tidal HiFi, which offers lossless high fidelity sound quality, as well as high definition videos and curated content, costs $19.99 per month.The site is currently counting down to a big reveal. It will be interesting to see what Jay-Z and co have planned.In Short: Jay-Z purchased Tidal earlier this year and got some of his musical friends to support the music streaming service. Will it be enough to worry Spotify?

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