Ben Thompson wrote the best analysis of Tidal I’ve seen so far. From Tidal and the Future of Music:

I would again draw an analogy to venture capital: startups can spread via Twitter or new discovery services like Product Hunt; minimum viable products are cheaper to build than ever thanks to Amazon Web Services, Microsoft Azure, etc.; and distribution channels like App Stores have natural promotional channels. And yet the importance – and amount – of venture capital has never been greater.

The truth is that because so many folks can now get started it is that much harder – and more expensive – to cut through the noise. Consumer companies need massive growth for many years, and enterprise companies need expensive sales forces, and the only folks enabling both are venture capitalists.

It’s a great overview of the all the challenges Tidal will have to overcome to beat incumbents like Spotify and Pandora.