Jay Z, Alicia Keys, Madonna and Others Align for New Streaming Service

In case you forgot, Jay Z's not a businessman, he’s a business, man. And his newly-acquired streaming service, Tidal, is about to make major waves in the music business.

Following Jay's recent $56 million investment in the company, Tidal is re-launching Monday with a little help from the rapper's famous friends. In a show of support, artists like Beyoncé, Alicia Keys, Rihanna, Nicki Minaj, Madonna, Daft Punk, and Coldplay joined the mogul at a press conference Monday to announce their co-ownership of the streaming service.

(photo: Jamie McCarthy/Getty Images)
(photo: Jamie McCarthy/Getty Images)

The owners walked on the stage as they were introduced in a procession that group spokesperson Keys compared to a graduation. Keys said the intention of the first artist-owned global music platform was to "create a better service and better experience" with a goal that goes "beyond commerce" and "beyond technology."

At the end of the press conference, the group of artists that also included the likes of Usher, J. Cole, Jack White, Jason Aldean, Deadmau5, Kanye West, among others, signed their agreement.

Other streaming services like Spotify have faced criticism from artists for what they called unfair payment practices. And last year, Taylor Swift wrote an op-ed for the Wall Street Journal arguing against free streaming music. "Important, rare things are valuable [and] valuable things should be paid for," she wrote. Unlike Spotify, Swift’s music is available on Tidal, which has subscriptions beginning at $9.99 a month.

Tonight, check out country artist Corey Smith performing on Yahoo Live. The show starts at 6:00 p.m. PT.