Given everything he has done in the music business, it looks like Jay Z does everything right. Doing all these business ventures has taken Jay Z from being worth a couple of million to closing in on a billion. The stumbles TIDAL has taken is leading some to believe Jay Z will fail.
It was a brilliant idea Jay Z had, as he had the likes of Beyonce, Usher, Nicki Minaj, Kanye West, J. Cole, Rihanna, Madonna, and many more invest as TIDAL owners. Meanwhile, Jay Z also forged partnerships with all the record companies. This is now becoming a problem.
The record companies are asking for a big advance from Jay Z and TIDAL that they cannot financially cover. It turns out, TIDAL was counting on Sprint to provide a sponsorship that they opted to not do. Now, TIDAL is strapped to pay the advance and the labels, Sony, Universal, and Warner are considering pulling out, which will include all of the artists in TIDAL, but crushing for Jay Z’s wife to be included.
Source: BGR
