Is Jay Z Trying to Leave Tidal?
There's a rumor going around that Jay Z is losing a lot of money because of Tidal and he wants out. HitsDailyDouble reports Hov is losing millions of money because funding he expected never came in and he's trying to get out of his investment in the streaming company. While things haven't been running as smooth as one likes, Hov and other big names behind the company have always publicly maintained support. Madonna, who co-owns Tidal with Jay Z, Beyonce and others, recently discussed Tidal and why people should understand that early troubles are not something 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 56-year-old singer in a recent interview. She added, “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.”
Tidal recently announced a family plan and discount for students. The company also lost its interim CEO last month. Bryan “Baby” Williams is also suing Tidal for $50 million over their hosting Lil Wayne’s Free Weezy Album.
XXL has reached out to Jay Z's reps for a statement.