Analytics on the forefront for Tidal moving forward
Image credit: Tidal
Square CEO Jack Dorsey has recently implied that Tidal will be getting a lot more features to help artists with analytics.
Recently, Square became the majority owner of music streaming service Tidal, and its CEO Jack Dorsey (also CEO of Twitter) got together with Jay Z for a Twitter Spaces discussion. In this conversation, the pair discussed their plans for the music service, most notably the focus on analytics for artists.
The main takeaway is that Dorsey is very interested to make analytics the differentiator in Tidal, in a bid to combat other streaming services such as Spotify and Apple Music.
Dorsey explains: “What really dawned on me was how weak some of the tool sets are for artists, with analytics and data, to understand what they’re doing and help them inform their decisions, especially considering other revenue streams like merchandise and touring and NFTs.” He continues: “When Jay and I had our initial conversations, the biggest opportunity we saw was the tools — artists have very few access to data, information, analytics and there’s not enough direct connection to those tools and the tool spaces are rather weak in comparison to other industries.”
This is very exciting news for Tidal users and artists in general, as we move into the digital realm more, the importance of data is becoming more obvious. Square could really push the level of tools available and in turn, push the competition.