Tidal, the high-definition music streaming service acquired in January by JAY Z, is gearing up for its official relaunch under new ownership. The company will hold a press conference at 5 p.m. Eastern time today, in which Shawn “JAY Z” Carter is expected to announce forthcoming plans for the business that promises “a new direction” for the streaming music industry. It’s being rumored that the company will also be confirming a group of artists to stream their music exclusively through the Tidal library, and is expected to include such heavyweights as Kanye West, Madonna and Daft Punk. Artists are already rallying around the service by using the #tidalforall hashtag on social media sites, as well as posting photos or changing their profile pic to a turquoise blue color. The move would definitely give Tidal an early advantage ahead of main competitors Spotify and Beats. We’ll be sure to update you with more information on this story as it becomes available.