Let’s think back just four months ago when Jay Z brought on stage several of his friends and fellow artists for the announcement that was supposed to change the music industry. TIDAL was supposed to be the next big thing in music streaming. Whatever Jay Z was selling, the public wasn’t buying. Also the fact that two CEO’s left in just six moths certainly didn’t help matters.
There is a lot of speculation going around that due to the financial difficulties TIDAL is experiencing Hov wants out. According to reports Jay Z is losing millions of his own money because funding that he was supposed to have received to keep the company afloat never materialized
Despite the struggles other co-owners like Madonna and Beyonce are staying strong, stating that early difficulties with a company is nothing to panic over.
“It’s just the beginning, so we’re working out a lot of kinks and hopefully we’re going to build something unique and amazing that’s going to attract a lot of people,” said the Madonna in a recent interview. “It’s important that people understand we didn’t create Tidal, we didn’t put this together, we didn’t all join forces because we’re broke and we want more money. The idea is we want to support other artists and we want people to understand this is our heart, this is our work, and we want people to recognize that and we want other artists to have a chance.”
Given the fact that Bryan “Baby” Williams is also suing TIDAL for $50 million for hosting Lil Wayne’s Free Weezy Album just adds to the distractions that an already struggling company is dealing with. Let’s not count Jay Z completely out just yet. He didn’t get to where he is by not taking risks. As it stands, this may be one of his biggest professional gambles. It’ll be interesting to see how the TIDAL story unfolds.