(AllHipHop News) Even though many music executives predicted the Jay Z led entertainment platform Tidal would fold in under a year, the service may have finally found its footing in the competitive streaming marketplace. Thanks in part to fellow artist-owner Kanye West.
TMZ reports Kanye’s latest album The Life Of Pablo set a streaming record for the service and the Tidal exclusive project helped the company more than double its subscribers to 2.5 million users. Tidal crossed the one million mark last September.
Kanye premiered TLOP during his “Yeezy Season 3” fashion show/listening session at New York City’s Madison Square Garden earlier this month. The event was streamed live on Tidal, and over 20 million people around the world tuned in.
Other Tidal artist-owners have provided exclusive content through the platform as well. In January, Rihanna released her latest album Anti on Tidal for free. The LP collected 1 million downloads and was streamed over 13 million times in 14 hours.
On Monday, T.I. announced he was the newest Tidal artist-owner. The Atlanta rapper celebrated by performing a free concert in his hometown which was only available for streaming on Tidal. The platform also recently debuted season 2 of the popular webseries Money & Violence.
Since Jay Z, Kanye, Rihanna, Beyoncé, Alicia Keys, Usher, J. Cole, Nicki Minaj, and several other music stars revealed the revamped Tidal service in May 2015, notable entertainers such as Lil Wayne and Damien Marley have signed on as artist-owners as well.
In addition the service has hosted numerous live events such as Jay’s “B-Sides” concert, Lil Wayne’s “Lil Weezyana Fest,” Young Jeezy’s “Let’s Get It: TM101” 10th Anniversary Concert, the Made In America Festival, and the TIDAL X 1020 concert.
While the company seems to be attracting new users, Tidal is still far behind its streaming competitors as far as total number of subscribers. Spotify is the industry leader with reportedly close to 25 million paid subscribers. Apple Music is said to have over 10 million paid subscribers in more than 100 countries.
Tidal has also faced significant turnover at the executive level. In December, Jeff Toig was named the company’s third CEO in less than a year. After his hiring, Toig told Billboard, “I spent a lot of time with Jay during the interview process and he’s an incredibly talented and visionary businessman and he is deeply committed to Tidal. This isn’t a short-term play. This is a long-term investment.”