Apple's Beats Music announces special payouts for artist's exclusives
Turning up the competition with Jay Z's Tidal
After Jay Z and his influential world-famous friends announced the world's first ever artist-owned music streaming platform, Tidal, many wondered how the likes of Spotify and Beats Music would react and compete.
Apple's Beats Music have taken note of Jay Z's approach, and announced that it will pay artists for exclusive streaming rights. This means that artists such as Taylor Swift, who famously removed her back catalogue from competitor Spotify recently, could be tempted to sign multi-million dollar deals to work with Beats Music exclusively.
Jay Z's Tidal announced a similar tactic to lure artists, offering the likes of Madonna and Beyoncé $3 million and 3% of the Tidal empire in exchange for exclusive tracks and content.
According to a Bloomberg report, Beats Music will offer a standard quality audio subscription for $9.99 per month, which is four times the amount the average person spends on iTunes downloads.