April 6, 2015

Will Jay-Z’s Tidal fail the way Bookish did?

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logoCould Jay-Z be making the same mistake with Tidal that “boring, tweed-wearing book publishers” made when trying to create Bookish?

Jeremy Greenfield offered some analysis last week that may indicate Jay-Z’s  music streaming service could be doomed to a similar fate. Greenfield offers the following similarities between Tidal and Bookish:

1. Bookish claimed a differentiator from the competition that consumers don’t really care about: a recommendation engine. Tidal has high-definition as its selling point. Many people can’t tell the difference between high-def and whatever Spotify provides.

2. To compensate, Bookish offered editorial content that would help connect readers to authors. In the words of Tidal’s CEO Andy Chen in its Justice-League-of-music-stars-filled event, Tidal will have, “exclusive editorial content.”

3. About those stars, a bizarre panoply of mostly hip-hop and pop artists with some indie rockers and electronic producers and a token country musician, Jason Aldean, so as not to seem discriminatory to that most polarizing of genres: Bookish tried the same thing. It was launched by publishers, who initially promised unique access to its version of stars: authors. And they delivered. Even today, you can find articles on the much-diminished Bookish.com like “Five Authors Pick Their Favorite Pranksters in Literature” and “Romance Author Jennifer Ryan on Embracing Your Guilty Pleasure Reads.”

4. Pricing. This is the most important part. Bookish priced its product in a way publishers could live with. Tidal is doing the same. Amazon and Spotify are much more focused on pricing models that millions of consumers can live with.

Ultimately, Greenfield concludes that Bookish failed because consumers and book buyers care more about “price and convenience” than all the extras—editorial content, recommendation engine, and access to authors—that publishers might offer. And as long as books and music are available for a cheaper price elsewhere, it’s going to be difficult to incentivize consumers to come to a new website. Whether Tidal can compete with Spotify and Apple in the way that book publishers tried to compete with Amazon remains to be seen.

 

 

Claire Kelley is the Director of Library and Academic Marketing at Melville House.

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