Jay Z and the minds behind his new streaming service TIDAL helped introduce its launch in New York City on Monday (March 30) in a star-studded event.

Touted as a service owned by artists, the hip-hop mogul re-launches the platform with the goal to encourage fans to respect music again, and give the makers of music the financial benefits of its monetization.

“This is a platform that’s owned by artists,” Jay Z said an interview last week with the New York Times. “We are treating these people that really care about the music with the utmost respect.”

Among the artists involved are Rihanna, Coldplay, Alicia Keys, Daft Punk, Calvin Harris, Usher, Arcade Fire, Nicki Minaj and Beyonce, among others.

Tidal will be a subscription service, offering two tiers defined by audio quality: $10 a month for a compressed format (the standard on most digital outlets) and $20 for CD-quality streams.

“The challenge is to get everyone to respect music again, to recognize its value,” Jay told the paper. “Water is free. Music is $6, but no one wants to pay for music. You should drink free water from the tap — it’s a beautiful thing. And if you want to hear the most beautiful song, then support the artist.”

During the press conference, a number of artists came to the stage and signed a contract in front of the crowd.

Watch the full press conference below.