From Vimeo:

Here's the video for 60-second station ID for Space Shower TV, Japan's largest music channel. The stream of water is coming down through the tubes attached to a speaker. The camera was set to film the running water in the same frame rate as the low frequency wave of the speaker, which creates the unique optical illusion of the vibrating droplets appear to freeze in the mid-air and running backwards. It was shot without a high-speed camera, any computer graphics, nor post process such as reversing. The director of this very first film work produced by JKD Collective is
Kosai Sekine, an award winning Japanese film director. The Japanese contemporary dancer, Masako Yasumoto's movement synchronizes with water and the music by Jemapur as if she is floating through time and velocity.