TIDAL launches user-centric royalties system
TIDAL is planning to launch a user-centric royalties system for a new $19.99 HiFi Plus membership option, Music Business Worldwide reports. Starting in 2022, the music streaming service is planning to adopt what it calls a 'Fan-centered royalties' approach where royalties attributed to HiFi Plus subscribers will be paid based on their individual streaming activity as opposed to the industry-standard method of aggregating streams and paying out to artists from a pool at the end of a payment period. TIDAL has also launched monthly direct-to-artist payments, which will see a percentage of HiFi Plus subscribers' membership fees directed towards their top streamed artist. TIDAL was acquired by Jack Dorsey's fintech fim Square earlier this year for over $300 million.