Jay-Z Believes Former Tidal Executives Lied About Subscriber Numbers
When Jay-Z purchased Tidal he was told the music subscription service already had a subscriber base of 503,000 users for him to build upon. A year and some change later, Jay-Z is filing a lawsuit against the former owners of Tidal, claiming they falsified the subscriber number.
This news comes just after Tidal and Kanye West boasted about The Life Of Pablo having over 250,000,000 streams within it’s first 10 days of release. A number which many believe is impossible.
According to Music Business Worldwide, Jay-Z bought Tidal and parent company Aspiro for 464 Million Swedish Krone ($57 Million USD) in March, 2015. In the lawsuit that was filed, Jay-Z claims former owner Wimp also didn’t tell him how bad of shape the company was actually in, and that it lost $10 Million USD in 2014.
The current subscriber base for Tidal sits at around 3 million users, as revealed just last week.
Stay tuned for more as this story develops.