Jay Z’s TIDAL streaming service continues to be one of the most talked about business ventures in the music world for various reasons.
A couple of days ago, TIDAL announced that the service had accumulated 3 million subscribers and that Kanye’s latest project The Life of Pablo was streamed 250 million times in first 10 days. The number is being questioned by experts as it means that since 3m goes into 250m about 80 times, every single one of Tidal’s paid subscribers played the album in its entirety 8 times a day every day for 10 days. And that’s just hard to believe.
Now according to Swedish News service Breakit, the rapper and business mogul Jay Z has written to several of the former major shareholders in Tidal/WiMP owner Aspiro where he accuses them of exaggerating the number of subscribers the service had when he approached them to buy the company last year. He is preparing to sue them for misleading him for a sum of $15 million.
Jay Z is reportedly claiming that the figure his team were given for worldwide subscribers of the company in January 2015 — 503,000, were inaccurate and misleading. He is also claiming that Wimp’s business was in a much worse condition than what was depicted in the statements he received at the time of purchase.
via Business Insider