In the wacky world of “show Business” here’s an ironic twist. Jay Z’s Tidal music streaming service might lose Beyonce, Jay Z’s wife, if an agreement isn’t met for upfront advances for the rights to have Sony music artists on Tidal.
Tidal was counting on funds from a deal with Sprint to help finance the advances companies like Sony and Warner’s were requesting. But up to now, Sprint has not made a deal with Tidal. Some experts have declared Tidal a big bust already while others have been more cautious in their assessment, although the early signs are not that great. Tidal claims it has 900,000 subscribers to date. Some think the number include free trials that might not be renewed.
Now Tidal has a new CEO who will have to come up with an approach to save the service before it’s too late. Stephen Murray CCMP Capital hopes it all works out for them on WSJ.com