I wonder if this will affect artist payouts. This might sound a bit out of touch or off-base, but I really think the streaming services we have are too cheap, in that they don't seem to support a good living for artists, not even close based on what I've read.
Back in the 90s as a kid I might spend $10-40 per month on new CDs, affording me maybe 3 hours of new music per month. In today's money that's over $80.
But now we're paying maybe $10-15 for dozens of hours of new music per month. Which is equivalent to getting 20 CDs for about $7 in 1995 money. We are effectively paying 80-90% less for our music now.
The vagaries of label licensing deals complicate things, but in the end the artist isn't getting as much of a share as I think we'd like them to.
While this great decline in cost is great for the music fan in some ways, ultimately I don't feel happy for the artists, who may have 100K people listen to their music and have basically nothing to show for it.
Tidal is supposed to be the best for artist payouts, so I'm hoping this price cut doesn't affect that.