Posted by , Mar 31, 2016 at 10:16am
Jay Z believes the former owners of TIDAL misled him about subscriber numbers when he purchased the streaming service.

Swedish News service Breakit reports that Jay Z is suing the former owners of TIDAL for a sum in the "region of 100 million" -- a figure presumably in Norwegian krone, which translates to $15 million USD. 

In a letter to several of TIDAL's former major shareholders, he accuses them of misrepresenting the number of subscribers the company had accrued when he acquired it $57 million in January 2015. He claims the figure they shared with him -- 503,000 worldwide subscribers -- was erroneous, and that the business was in worse condition than statements had led him to believe.

TIDAL reached the 3 million subscriber plateau earlier this week. Their subscriber base skyrocketed from 1 million to 2.5 million in the 10 days after Kanye West released The Life of Pablo.

Stay tuned for further developments in Jay Z's lawsuit against the former owners of TIDAL.

[via]

Jay Z To Sue Former TIDAL Owners For Estimated $15 Million

Jay Z believes the former owners of TIDAL misled him about subscriber numbers when he purchased the streaming service.


Swedish News service Breakit reports that Jay Z is suing the former owners of TIDAL for a sum in the "region of 100 million" -- a figure presumably in Norwegian krone, which translates to $15 million USD. 

In a letter to several of TIDAL's former major shareholders, he accuses them of misrepresenting the number of subscribers the company had accrued when he acquired it $57 million in January 2015. He claims the figure they shared with him -- 503,000 worldwide subscribers -- was erroneous, and that the business was in worse condition than statements had led him to believe.

TIDAL reached the 3 million subscriber plateau earlier this week. Their subscriber base skyrocketed from 1 million to 2.5 million in the 10 days after Kanye West released The Life of Pablo.

Stay tuned for further developments in Jay Z's lawsuit against the former owners of TIDAL.

[via]

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