Yup, you read that correctly.
New issues with Jay Z’s streaming service Tidal have now presented another indefinite, controversial issue. All artists under the Sony label must now be accounted for in what seems to be a substantial compensation. In other words, Sony is asking for a large sum of money in return for allowing their artists’ music to be featured on the service.
And why is this issue so prevalent you ask? Well, Beyoncé (and co-owner of Tidal) is an artist under the Sony label, so I think you can see where things are getting messy.
“Sony is demanding a significant amount of money from Tidal to feature its music on the service, and if they’re not able to come to terms, this could lead to Sony artists’ music, including Tidal co-owner Beyoncé, being taken off the service.”
As with everything in the world of business, I guess we’ll have to just wait and see how this one plays out.