Editorial Staff
Tidal music service has recently come to the forefront that they have fallen behind on their royalty payments to those record labels whose music they have been streaming. This information was originally reported by a Norwegian news network, but was later translated by the Music Business Worldwide.
There have been several sources that say Tidal is not keeping up with regular payments for three companies in particular. Two of those international companies, Phonofile and Propellor Records, are owned by Sony.
The CEO of Phonofile, Sveinung Rindal, says it is true that there have been drastic delays in payment to their company. Frithjof Boye Hungnes, CEO of Propellor Records, say that they have not been issues a payment since October 2017. He went on to say that there is talk of people withdrawing their music from Tidal, as they are upset about the situation.
Other reports have shown that Tidal has had money issues because their growth in users has slowed dramatically. It is possible, according to the report, that Tidal’s working capital could be completely gone in about six months time.