We were wary of all the media ‘hot takes’ pronouncing Tidal doomed on the strength of its relaunch press conference, and it seems veteran industry exec L.A. Reid agrees. “I don’t think any of us can afford to announce something dead on arrival. It’s naive, unfair, shortsighted and just dead wrong.
People are only now starting to relate to the idea of streaming, and a rising tide floats all boats,” he told Billboard. “Streaming is the holy grail for our industry, and a race that hasn’t been won yet. So I want all of them – Spotify, Beats, etc – to be great successes.” Reid also warned artists not to judge streaming on its current payouts. “It’s a new frontier. And the truth is that there just aren’t enough subscribers yet. If we see millions of subscribers then we’ll see the per-stream rate go up and see a huge change in the landscape,” he said.