Jay Z is continuing on his mission to expand his business portfolio. Over the weekend of the 2015 Grammys, Jay reportedly had a secret meeting with some of musics’ top tier talent to discuss them coming together like as one to form a music industry monolith.
Jay recently completed a $56 million purchase of Aspiro, a Swedish streaming service. Jay reportedly wants to challenge Spotify, Pandora, YouTube, iTunes, etc. and wants the artist to profit together from it.
They included Madonna, Kanye West, Daft Punk, Nicki Minaj, Chris Martin of Coldplay, Jack White and of course, his wife Beyonce. “Rihanna came in at the end,” one source said. “They all kept saying, Where is Rihanna?” At least two country music stars attended as well.
The subject was how they could turn Aspiro — which will be known in the U.S. as TidalHifi (@tidalhifi) when it relaunches– into a streaming music and video service akin to the old United Artists pictures, in which artists would actually profit from their art and put out quality material.
In 1919, a handful of movie stars– Charlie Chaplin, Mary Pickford, Douglas Fairbanks– and director D.W. Griffith– banded together and started their own studio to combat what they saw as growing commercialism of the majors. I’m told that Jay Z, who can be a bit of a visionary, sees his new service just this way.
Looking at the past to build a greater future. I like it.