Jay Z had good reason to get his famous friends to help promote the relaunch of his newly purchased music streaming business, Tidal.
At a press conference in New York City on Monday afternoon, which was streamed via Tidal.com, the rapper stood alongside veteran music stars, including Beyonce, Rihanna, Usher, Nicki Minaj and Kanye West, all of whom were announced as co-owners of the company.
Alicia Keys spoke on behalf of the group and expressed her excitement for the launch, which she says will help artists regain control of their content. "This is incredible, I mean, this is so powerful and I think that all of us, collectively in this room are feeling the same kind of energy, like look at this, look how we can do this, you know, look how we can all do this together and this is really a powerful moment," she said.
"Think about how many times music has truly changed the world and reshaped our culture. How much do we love this thing called music?" Alicia said. "So we come together, before you on this day, March 30, 2015, with one voice in unity in the hopes that today will be another one of those moments in time, a moment that will forever change the course of music history."
Other celebrities who have signed on to help "turn the tide," include Madonna, Coldplay's Chris Martin, Daft Punk, Calvin Harris, J. Cole, Arcade Fire and Deadmau5.
Founded by Swedish company Aspiro as a high resolution audio streaming venture, Tidal was purchased earlier this year for a reported $56 million by an investment company controlled by Jay Z. Billboard cites unnamed executives familiar with the company's financials as saying that each of the 16 artists participating in the launch were given three percent stakes in the company.
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