On March 30, 2015, it was announced that Beyoncé is a co-owner, with various other music artists, in the music streaming service Tidal. The service specialises in lossless audio and high definition music videos. Beyoncé's husband Jay Z acquired the parent company of Tidal, Aspiro, in the first quarter of 2015. Including Beyoncé and Jay-Z, sixteen artist stakeholders (such as Kanye West, Rihanna, Madonna, Chris Martin, Nicki Minaj and more) co-own Tidal, with the majority owning a 3% equity stake. The idea of having an all artist owned streaming service was created by those involved to adapt to the increased demand for streaming within the current music industry, and to rival other streaming services such as Spotify, which have been criticised for their low payout of royalties. "The challenge is to get everyone to respect music again, to recognize its value", stated Jay-Z on the release of Tidal.