“Jay Z’s Tidal music service is having a terrible, horrible, no good, very bad week,” Stephanie Mlot reports for PC Magazine.
“The company was hit Sunday with a $5 million class-action lawsuit that alleges it failed to pay artist royalties. And now, the celebrity-owned service fired its CFO and COO,” Mlot reports. “Yesh Music, LLC and John Emanuele from the band American Dollar claim Tidal streamed 116 of the group’s copyrighted songs without making royalty payments. According to the suit, Tidal may have used faulty numbers to reimburse artists, paying them as much as 35 percent less than what was owed. Jay Z’s corporation, however, chalks the case up to nothing more than a mix-up.”
Mlot reports, “Tidal’s troubles don’t end with proposed changes to the civil justice system: On Tuesday, reports surfaced that Chief Financial Officer Chris Hart was dismissed after two years over a squabble about user and streaming numbers; COO Nils Juell is also out, Tidal confirmed to PC Magazine.”
Read more in the full article here.
MacDailyNews Take: From the start, this thing had disaster written all over it.
Jay Z’s Tidal music service loses second CEO in six months – June 23, 2015
Half of Tidal’s owners may have to pull their own music – May 29, 2015
Why Jay-Z’s Tidal music venture is a complete disaster – May 28, 2015
Jay-Z’s Tidal music service is already a spectacular flop – April 21, 2015
Why Jay-Z’s ‘Tidal’ music subscription service doesn’t matter – March 31, 2015