Jay Z launched his latest business venture Monday, announcing Tidal, a subscription music-streaming service. The move grows out of Jay Z’s $56 million purchase of foreign streaming company Aspiro, which he plans to repurpose as an artist-owned company for exclusive content. “This is a platform that’s owned by artists,” he told The New York Times. “We are treating these people that really care about the music with the utmost respect.” Coldplay, Rihanna, Daft Punk, Beyoncé, Alicia Keys, and others have already signed on to the deal. The service will make millions of songs and videos available on two subscription tiers.