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Tidal is laying off more staff.
(www.theverge.com)
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this post was submitted on 31 Oct 2024
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What's a Tidal?
A music app like Spotify founded by Jay-Z.
The proposal was to pay the artists more.
Sounds good, but I think the majority goes to the labels anyways, so it doesn't change much for the artists.
The main issue is executives basically enslaving their artists with "360 deal" contracts.
Spotify actually pays 70% of the streams to the label, which trickles down to a bunch of nothing for the artist. Tidal wanted to change that and pay directly to the artist
How is that possible if the labels own the music and there's a contract that sets the percentages.
All music streaming services say "paying the artist" in their communication.
Well, turns out Tidal has ended that program last year: https://www.digitalmusicnews.com/2023/03/01/tidal-direct-payments-program-ends/
Yeah, they made a deal with the devil it seems
UMG is the main actor with the 360 deals for artists. And that's just the top of the iceberg. The Diddy case might show the bottom.