Majority of the executives at the music industry think music streaming service Tidal is on the verge of death.
A Billboard’s survey on 50 top executives in the music industry showed 71 percent thinks Tidal will be gone in a year or less, while 17 percent think it will only last two more years.
Only 12 percent of the respondents think Tidal is here to stay.
Tidal was acquired by Jay Z from Aspiro earlier this year.
Jay Z announced this summer that Tidal had 770,000 subscribers, which is way behind its top rivals such as Spotify (20 million paying subscribers), Apple Music (11 million users signed up for a three-month free trial), and Rhapsody (three million paying subscribers), the International Business Times noted.
However, this does not mean the Jay Z is going bankrupt or that the rumored divorce of the rapper and wife, Beyonce, has anything to do with the failed business.
Meanwhile, Tidal slammed Apple for blocking it from streaming a video of Drake’s performance at Lil WeezyAna festival over the weekend.
“Apple is interfering with artistry and will not allow this artist to stream. Sorry for Big Brother’s inconvenience,” Tidal wrote on its official Twitter account when the stream was cut.
Drake played a mini-set at a Hurricane Katrina benefit at the festival in New Orleans. The event streamed live by Tidal. But while Drake was on stage, the stream was cut and Jay Z’s music service blamed it to Apple.
Later, it turns out Apple has nothing to do with it and it was actually the decision of Drake’s camp.
Drake’s manager, Future the Prince, told BuzzFeed News, “The decision to not have Drake participate in the Tidal steam has nothing to do with Apple or Drake’s deal.”
Drake’s manager also denied the New York Post report that Apple threatened to sue Tidal for some $20 million if Drake’s live performance made an appearance on Tidal.
“Point blank, 100%. I made a business decision. Apple doesn’t have the power to stop us from being part of a live stream,” it added but also accused Tidal of a “publicity stunt.”
Drake has an exclusive deal with Apple Music worth up to $19 million.