According to report, the rapper has lost millions because the money he expected to earn from Tidal never came in, and he now wants to cut ties with the company before he loses more.
- July 31, 2015
AceShowbiz -
Jay-Z is apparently fed up with the problems Tidal has been facing since day one. According to a new report by HitsDailyDouble, the rap mogul is trying to leave the company which he co-owns with a string of A-listers like Madonna, Rihanna, Kanye West, Nicki Minaj and more.
The site suggests that Hova has lost millions because the money he expected to earn from Tidal never came in. He's now trying to get out of his investment in the streaming company before he loses more.
Tidal has never been a big hit since it was launched back in March, originally to rival Spotify, although it has offered several exclusive contents. Following numerous criticisms directed at Tidal over its high price point, its co-owner including Jay-Z, Jack White and Madonna spoke out in defense of the service.
"It's important that people understand we didn't create Tidal, we didn't put this together, we didn't all join forces because we're broke and we want more money. The idea is we want to support other artists and we want people to understand this is our heart, this is our work, and we want people to recognize that and we want other artists to have a chance," Madge said earlier this month.
Another problem Tidal is currently facing is a $50 million lawsuit filed against the company by Cash Money. The label sued them after another Tidal co-owner Lil Wayne, who's been feuding with Birdman over the delay of "Tha Carter V", dropped his "Free Weezy Album" exclusively on the service.
