Dubset, Tidal Strike Up Deal To Bring DJ Sets, Remixes To Streaming Platform
The party resumes on Tidal.
Dubset Media Holdings announced on Friday, Jan. 5, that the company is partnering with the music streaming platform Tidal to release DJ sets and remixes to its digital library. The move was to make its catalogue available to a wider audience and help artists capitalize on their work.
The start-up has also made similar deals with competing music streaming services Spotify and Apple Music. Reports claim that Dubset is also on the process of finalizing deals with Sony Music and Merlin, an independent distribution company.
"This is another important step in making the incredible content created by our DJ community available to fans all over the world," said Stephen White, CEO of Dubset, in a statement. "The addition of TIDAL as a distribution partner has long been goal of ours and we are thrilled that their subscribers will begin to hear legal mix and remix content on their platform in the coming weeks."
The company is also currently working out on similar deals with UMG and Warner Music.
Dubset Media Holdings is a music licensing and digital distribution company that specializes on identification and monetization of User Generated Content. Artists who are interested in delivering their remixes through Tidal can check out MixBank, Dubset's own digital platform that makes music distribution easier and generate revenue.
The addition of Dubset's digital catalogue to Tidal's library could help the streaming service find a wider audience. A month ago, a report by a Norwegian publication claimed that user growth has stalled, and the company is running out of money fast.
A representative for the company argued that there have been numerous negative reports since the acquisition of Tidal, and so far, the streaming service is still afloat. Moreover, the business has been steadily growing each year.
In fact, in January 2017, Sprint purchased a 33 percent stake in Tidal. This alone could help the company functioning for the next 12 to 18 months. The subscription streaming service is also expected to break even and become profitable by the mid-2018.
Jay-Z, the owner of the digital platform, has been making efforts to bring more paying users to Tidal. Last month, he released his new music video, "Family Feud," featuring Beyoncé, his daughter Blue Ivy, and A-list Hollywood celebrities such as Jessica Chastain, Mindy Kaling, Rashida Jones, Rosario Dawson, Constance Wu, and others exclusively on his web-based app. He also briefly pulled all his albums from Spotify and Apple Music last year.