Bloomberg is reporting that Jay Z is out to get the previous owners of Tidal, who he claims inflated the subscriber numbers at the time of his acquisition. The original owners of Tidal, the Norwegian media company Schibsted ASA, received a legal notice today regarding the claims. In an emailed statement with Bloomberg, Tidal representatives said, “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.”
The statement continues, saying, “As a result, we have now served legal notice to parties involved in the sale.” Schibsted have defended their sale tactics, claiming that the buyers of Tidal conducted plenty of research before acquiring Tidal in January 2015. A spokesman for schibsted said, “We disagree with the accusations in the letter and any potential claims. We would like to point out that the company was listed on the stock exchange with everything that entails regarding transparent financial reporting.”
Tidal recently reported that Kanye West’s The Life of Pablo was streamed over 250 million times within the first 10 days of its release, and that the platform has surpassed three million paid subscribers.