Tidal seems to be on a role as of late. They have three million subscribers globally and had the exclusive streaming rights for Kanye’s album, The Life Of Pablo. Now it seems as if Tidal is going after their former owners for exaggerating the subscriber numbers at the time of the sale.
Tidal is alleging that their growth to three million was even greater than originally thought. “We are excited that one year after TIDAL launched, we have surpassed 3 million subscribers globally. The growth in our subscriber numbers has been even more phenomenal than we’ve previously shared,” a Tidal spokesperson told Complex in a statement. “It became clear after taking control of TIDAL and conducting our own audit that the total number of subscribers was actually well below the 540,000 reported to us by the prior owners. As a result, we have now served legal notice to parties involved in the sale.”
One of the company’s former shareholders, Schibsted communications manager, Andres Riker is denying the allegations stating that because Tidal was a publicly traded company, it’s financial records has been transparent.
This case is going to be a big one, as Jay-z and company is suing the former owners for 100 million Norwegian krone, which translates to $15 million.
We’ll definitely see how this goes.