“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.
SEE ALSO:
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
A total wannabe service by big ego celebrities!
They may be popular doesn’t make them good in business.
It will be fun watching this ship sink! 👟👟
I understand Kanye is looking for work?
Have you got a spare $53 million for poor ‘ol Wile E. Kanye, Supah-Geeeeeeen-yas. He likes the way that rolls out….
I know, Canye can throw in the 5 mil to pay these “artiste’s”, oh wait!
It was a scam from the start. It’s the music business people and nothing has changed. Everyone’s got their money in other peoples pockets.
Oh, Jay Z got paid I’m sure and probably based on “users and streaming numbers” which were made up. Once the audit was requested by someone’s attorney, they set up Hart as the fall guy. No biggy though, either Hart was in on it, plays ignorant, or they’re taking care of him behind the curtain.
Just follow the money and whoever owns the shell company that has no assets and has already spent the money. That’s where you’ll find the man/scam.
You mean musicians eat their own? Huh.
👍
Carnye and JarZee already spent the advance royalties.
Keep’n up with the Dre’s isn’t all that easy, eh Jay Z.?
He can stuff up his a** and no one will miss it.
After they fold, I wonder where Kanye will put his music since it will never ever ever ever ever be on Apple
“Ain’t no such thing as easy money” JAY -Z
Great quote! And how ironic is it that Jay-Z sang this tune and Kanye wrote the lyrics:
Uh, uhh, listen
First the Fat Boys break up, now every day I wake up
Somebody got a problem with Hov’
Whassup y’all niggaz all fed up ’cause I got a little cheddar
And my records movin’ out the sto’?
Young f*cks spittin’ at me, young rappers gettin’ at me
My nigga Big predicted the shit exactly
“Mo’ Money, Mo’ Problems”, gotta move carefully
‘Cause faggots hate when you gettin’ money like athletes
Yung’uns ice-grillin’ me, ohh, you not feelin’ me?
Fine, it cost you nothin’, pay me no mind
Look, I’m on my grind cousin, ain’t got time for frontin’
Sensitive thugs, y’all all need hugs
Damn though mans I’m just tryin’ do me
If the record’s two mill’ I’m just tryin’ move three
Get a couple of chicks, get ’em to try to do E
Hopefully they’ll menage before I reach my garage