Entertainment

Jay Z, Madonna, Nicki Minaj among owners of new Tidal streaming service

March 30, 2015 / 5:43 PM EDT / CBS/AP

Billboard Magazine’s Andrew Hampp was at the big reveal of Jay Z’s star-studded event for the launch of his new music streaming service, Tidal

Will Jay Z's new streaming service change the music industry? 04:29

Some of the biggest names in music have come together to launch their own online streaming service.

Beyonce, Alicia Keys, Kanye West, Madonna, Jay Z, Rihanna, Nicki Minaj, Usher, Jason Aldean, Daft Punk and Jack White appeared onstage together in New York City Monday to announce the launch of Tidal, an artist-owned music and video streaming service.

Keys said the artists hope the new service will "forever change the course of music history" and ensure the viability of the industry.

From left, Jason Aldean, Jack White, Daft Punk, Beyonce, Regine Chassagne, Win Butler, and Alicia Keys onstage at the Tidal launch event #TIDALforALL at Skylight at Moynihan Station on March 30, 2015, in New York City. Jamie McCarthy/Getty Images for Roc Nation

Ahead of Monday's event, music stars showed their support for Tidal by changing their Twitter pictures to a turquoise box and tweeting about the launch.

5 more hours...TIDAL.com @TIDALHiFi #TIDALforALL http://t.co/PJpMD488rM
— Rihanna (@rihanna) March 30, 2015

The membership-based service will provide music and exclusive video content that users can stream on computers, tablets and smartphones or listen to offline.

A subscription for hi-fi quality audio is $19.99 per month, and $9.99 a month for standard def.

More from CBS News