For TIDAL to be such a small fish in a big streaming pond, the hate is real.
In a new investigation into Jay Z’s Tidal, Bloomberg Business reports that the streaming service is still in negotiation with Sony over the right to stream their artists’ catalogues. The report claims that the label is demanding a large advance from Tidal. And with no payment, it could mean that Tidal co-owner Beyoncé, a Sony artist, could stand to have her albums pulled from Tidal.
Tidal was forced to re-negotiate deals with major labels over streaming rights when the company was bought by Jay Z. Universal reportedly settled quickly—as they distribute some Roc Nation records—and Warner reached an agreement earlier this month leaving Sony the current hold-out.
While fans have not exactly warmed up to TIDAL swiftly, it seems Hov has the best of intentions. Tidal pays record labels and music publishers a higher royalty—75 percent of revenue, vs. Spotify’s 70 percent, boosting the value of music on the Internet, including his own.
READ more about Hov’s business rise HERE
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