Fif went to Instagram Thursday (December 14) to blasts Young Hov over his digital empire allegedly going through some money woes.
This week, reports have emerged about TIDAL going through some growing pains since JAY launched it in 2015.
The music streaming service is reportedly losing money to the tune of tens of millions of dollars per year, and may not have enough dough to stick around for another six months, Norwegian newspaper Dagens Næringsliv reports. The outlet says that since JAY-Z purchased Oslo-based Tidal in 2015, the company has lost some $60 million — $44 million of it in 2016 alone. Still, Tidal reportedly claims it’s on track to turn a profit in mid-2018. (New York Daily News)
A TIDAL spokesperson has since downplayed the widespread stories.
“We have experienced negative stories about Tidal since its inception and we have done nothing but grow the business each year,” a spokesperson for Tidal told Engadget. The company reportedly claims it will break even soon, before achieving profitability in mid-2018.
Back in 2015, Young Hov and other top-tier entertainers pushed TIDAL as a service to help fellow musicians.
Jay Z and other top names in music – including Madonna, Daft Punk and Coldplay’s Chris Martin – in March 2015 unveiled Tidal, promising to give artists greater control in the fast-growing industry of streaming, which allows unlimited, on-demand listening. The streaming service has sought to win customers by providing original content and early releases from Tidal’s superstar artists including Jay Z, Beyonce, and rapper Kanye West. (Daily Mail UK)