Billy Corgan On Tidal: 'To Try And Sell It As An Altruistic Thing Is Disingenuous'

He's known for his very candid and sometimes brutal opinions, and The Smashing Pumpkins frontman Billy Corgan is at it again. 

The newly appointed TNA wrestling executive stopped by US TV network CNBC for a chat when he was asked about his views on the new music streaming service, Tidal - the brainchild of rapper Jay Z.

"Although I celebrate the idea of him creating his own model it leaves a lot of people out" he explained of the product. 

"At some point you have to have winners and losers because that's the way it works. To try and sell it as an altruistic thing is disingenuous because it's not."

The 48-year-old songwriter referred to the way music business will be conducted in the future as the "wild west".

"You're gonna see a complete disintegration of the business model. And a reforming" he said. 

"The problem is because artists are generally manipulated, it's an old business model, you're told 'you have no value, you have no value.' They're slow on the uptake on how much value they have in this market place."

Corgan claims his biggest gripe is that the current business model is outdated and it exploits artists, and he didn't hold back when sharing his thoughts on those in power of the music industry. 

"The music business is mostly run by feckless idiots who do not subscribe to the normal [tenets of] capitalism which when they do, the business tends to work out well and stars tend to rise to the top, everybody benefits" Corgan said. 

"But it is still a parochial business. It is run by thiefdoms way behind the times technologically."

Corgan and his band are set to co-headline a US tour with rock star Marilyn Manson this July, while he continues work on a new Pumpkins album.