A BRAND NEW report in Dagens Næringsliv says that streaming carrier Tidal is months behind on bills to labels.
within the record, the newspaper says that multiple assets have divulged that Tidal is “behind with bills directly to the 3 major international file companies.” Backing this claim up are two executives from a label and its Sony-owned distributor who say they have not seen royalty payments in over six months.
according to a translation through Track Trade World Wide, Sveinung Rindal, CEO of distribution corporate Phonofile (a Sony subsidiary), informed the Norwegian paper, “it is proper that there are delays in payments from Tidal,” while Frithjof Boye Hungnes, CEO of Propeller Recordings, confirmed, “We haven’t been paid for the reason that October … Persons Are talking about retreating their music from Tidal; i think there is a sexy dissatisfied mood.”
Remaining December, a separate record from the similar newspaper mentioned that Tidal used to be running out of cash, suggesting that it handiest had about six months of working capital left. In an announcement to The Verge, a Tidal spokesperson stated, “We’ve Got experienced poor tales approximately Tidal when you consider that its inception and we’ve done nothing however grow the trade once a year.”