The upstart Tidal streaming music service, headed by rap entrepreneur Jay Z, might be in some substantial trouble. That’s according to a new in-depth report by Bloomberg.
If the rapper can’t come up with the cash to pay label Sony, he may be losing some albums from seven of the 15 co-owners of the service – including his own wife Beyoncé.
The complete report is definitely worth a read. Jay Z seems to be learning that building a successful streaming music company isn’t as easy as it looks.
If you’re interested in Tidal, the companion app can be downloaded now on the App Store for free. There are two different subscription options, a $9.99 or $19.99 per month tier. The more costly option offers hi-fidelity sound with “CD-level quality.”
During an introduction press conference in March, Jay Z and other big name artists like Rihanna, Kanye West, Madonna, Nicki Minaj, Jack White, Alicia Keys, Jason Aldean, Daft Punk, and Arcade Fire turned out to support the service.
As you probably remember, Apple is reportedly close to unveiling a revamped Beats Music subscription service – possibly as early as next month at WWDC. Rumored to be named Apple Music, the service could feature its own exclusive content and will tie in deeply with iOS and Mac OS X. And it will be another major player Tidal will need to overcome.
Spotify, another popular competitor in the space, announced last week that it is adding some major new features like original video and podcasts.
For other news today, see: Geometry Wars 3 hits the App Store bringing intense 3-D arcade action, Inbox by Gmail is now open to all and stocked with new features, and What is Lego Worlds? Are we looking at a new Lego Minecraft game?