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Music streaming service Tidal is apparently months behind on the payments it owes to music labels. According to reports, sources in the company say that the service is “behind with payments directly to the three major international record companies”. While the company itself hasn’t confirmed the same, it seems executives from some record labels have said the same.
The company owned by Beyoncé's husband, Jay-Z told CBS News that it "is a smear campaign".
Image credit: Joella Marano via Flickr / CC BY-SA 2.0
“Two prominent Norway-based music businesses, independent label Propellor Records and its distributor, Sony-owned Phonofile, go on record to further comment on the matter,” reported Music Business Worldwide, which translated the original report from Dagens Næringsliv.
Besides boosting streaming numbers for Beyonce and Kanye West, DN had previously alleged that Tidal, was also inflating its overall subscriber base.
The publication also stated the Sveinung Rindal, the CEO of Phonofile, a distribution company, had said, “It is correct that there are delays in payments from Tidal.” The same was also confirmed by Frithjof Boye Hungnes, who is the CEO of Propellor Recordings. Hungnes’ company has apparently not been paid since October.
In a statement, Tidal said that it has “experienced negative stories” of lies and falsehoods since its inception through its business was still growing. The company owned by Beyoncé's husband, Jay-Z told CBS News that it "is a smear campaign from a publication that once referred to our employee as an 'Israeli Intelligence officer' and our owner as a 'crack dealer'," and promised to "fight these claims vigorously."
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