Tidal, The Music Streaming Service Jay-Z Acquired For $56m Already Failing
There are reports that Jay Z’s music streaming service, Tidal, is not doing well. When it was launched on March 30th, it went to number 4 on the iOS music app chart. As of this week, it’s now ranks 51 on the music chart and 872 overall. Major rivals Pandora & Spotify sit in 1st and 3rd place respectively.
According to Yahoo music
When Tidal made its big media push at the end of March, the core message was clear: While other streaming music services like Spotify and Pandora pay a pittance to artists, Tidal offers musicians a better deal. Unfortunately, Tidal also opted to use super stars like Nicki Minaj and Beyonce as spokespersons for the app. The result was the ultimate mixed message: You should feel sorry about how little money Nicki makes. Less than a month into Jay Z’s Tidal reign, the rapper is already effecting major changes.