• Home
  • News
  • Fortune 500
  • Tech
  • Finance
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia
Arts & EntertainmentTidal

Jay Z Accuses Previous Tidal Owners of Exaggerating Subscription Numbers

By
Michal Addady
Michal Addady
By
Michal Addady
Michal Addady
March 31, 2016, 4:03 PM ET
Brooklyn Nets v Los Angeles Clippers
LOS ANGELES, CA - FEBRUARY 29: Rapper, Jay Z and Singer, Beyoncé attend the Brooklyn Nets game against the Los Angeles Clippers at STAPLES Center on February 29, 2016 in Los Angeles, California. NOTE TO USER: User expressly acknowledges and agrees that, by downloading and/or using this Photograph, user is consenting to the terms and conditions of the Getty Images License Agreement. Mandatory Copyright Notice: Copyright 2016 NBAE (Photo by Andrew D. Bernstein/NBAE via Getty Images)Photograph by Andrew D. Bernstein—NBAE via Getty Images

Jay Z wants the previous owners of Tidal to pay up.

The hip hop mogul, who purchased Tidal in March of last year, has accused the service’s previous owner, Norwegian media company Schibsted ASA, of inflating the number of subscribers it had at the time of the sale, Bloomberg reports. The deal was valued at $56 million.

“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,” Tidal told Bloomberg. The company said it has “served legal notice to parties involved in the sale.”

Schibsted defended the deal, telling Bloomberg, “We disagree with the accusations in the letter and any potential claims.” Schibsted said that S. Carter Enterprises LLC, Jay Z’s holding company, had done its due diligence before the deal went through.

Tidal is facing its own legal challenges. Fortune reported earlier this month that it was hit with a $5 million lawsuit by Yesh Music Publishing and John Emanuel of American Dollar, accusing Tidal of both copyright infringement and unpaid royalties.

Tidal has had multiple management shakeups since Jay Z bought it last year. Samsung (SAMSUNG-CT) was rumored last month to be in talks with Tidal to buy the streaming service, but Variety reported that the company had no plans to do so.

About the Author
By Michal Addady
See full bioRight Arrow Button Icon
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • Future 50
  • World’s Most Admired Companies
  • See All Rankings
Sections
  • Finance
  • Leadership
  • Success
  • Tech
  • Asia
  • Europe
  • Environment
  • Fortune Crypto
  • Health
  • Retail
  • Lifestyle
  • Politics
  • Newsletters
  • Magazine
  • Features
  • Commentary
  • Mpw
  • CEO Initiative
  • Conferences
  • Personal Finance
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
About Us
  • About Us
  • Editorial Calendar
  • Press Center
  • Work At Fortune
  • Diversity And Inclusion
  • Terms And Conditions
  • Site Map

© 2025 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.