One of the rap games biggest names is making a foray into the world of streaming music.

Shawn Corey Carter, better known by his stage name, Jay-Z, has announced plans to launch his own streaming music service that will offer users an option to may a higher monthly fee for access to better quality music.

He unveiled the plans at a celebrity-laden press conference in New York City on Monday, which included his wife, Beyoncé, rapper and friend Kanye West, and Madonna. The service will be called Tidal, and will allow users to subscribe for $9.99 or pay $19.99 a month for access to higher quality streaming music.

Do you think Jay-Z’s service will be successful with consumers? How will this change the streaming music business?

Guest:

John Jurgensen, entertainment reporter for the Wall Street Journal covering music and digital entertainment.