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Mar 31, 2015 By Mike Hilleary Arcade Fire

Yesterday Jay Z announced the launch of a brand new music streaming service called Tidal. Preceding by a hefty social media campaign, the venture was properly unveiled during a news conference in Manhattan, featuring appearances by the company’s co-owners and majority investors: high-profile artists such as Win Butler and Régine Chassagne of Arcade Fire, Daft Punk, Jack White, Kanye West, Beyoncé, Madonna, Usher, Coldplay’s Chris Martin, Alicia Keys, Rihanna, Nicki Minaj, and others.

This artist-led ownership is perhaps one of the defining aspects of the enterprise, which will seek to put control of musicians work back in their own hands. In an interview with The New York Times, Jay Z says current streaming “pay system[s] [are] unfair to artists. Everywhere else, everyone gets compensated for their work. Music is everywhere—you consume it every day, everywhere you go. The content creator should be compensated. It’s only fair.”

Featuring millions of songs and thousands of high-definition videos available in 31 countries, it was revealed that Tidal will not have free version, but Instead offer two subscription tiers defined by audio quality: $10 a month for a standard, compressed format and $20 for CD-quality streams.

Already Tidal has also offered a number of exclusives, including The White Stripes’ first-ever TV appearance, Daft Punk’s film Electroma, and a playlist curated by Beyoncé.

Tidal is only the newest competitor to enter into the music streaming foray, with Apple due to introduce its own revamped subscription service this year in collaboration with Dr. Dre’s recently acquired Beats.

Visit Tidal’s new homepage and click below to watch the company’s launch video.