Tickets for the concert are priced between $74 and $244, and all proceeds will go to the non-profit group New World Foundation, which works with community organizations on issues including civil rights, social justice, poverty and education. Viewers watching online can also donate during the live stream.
Tidal launched in March offering only paid subscriptions, billing itself as the first of its kind music streaming service owned by artists, but it has struggled to compete against more established rivals Spotify, Pandora, both of which offer free streaming services supported by advertising, and Apple Music.
Rapper and entrepreneur Jay Z, who purchased Tidal from Swedish company Aspiro for $54 million earlier this year, said in April that the service, which is backed by top names like Madonna, Rihanna and Chris Martin, had more than 770,000 subscribers.
In a celebratory Tweet on Tuesday on the eve of the concert announcement, Jay Z wrote: " 'Nothing real can be threatened, nothing unreal exists' Tidal is platinum. 1,000,000 people and counting. Let's celebrate 10/20 Brooklyn."
(8/16) TIDAL to match 100% net gross proceeds during pre-sale period. Monies go to TIDAL X 1020 FUND @ New World Foundation #TIDALX1020 @HTC
— TIDAL (@TIDALHiFi) September 30, 2015
Tidal has faced its detractors in the music industry, with artists ranging from rapper 50 Cent to British rocker Noel Gallagher. British folk band Mumford and Sons said independent bands need support more than Tidal's already wealthy artists trying to make more money.
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