Please allow me to introduce our company Palace Music Group, LLC. We were established in 1996 as a distribution company. We specialize in Online Digital Distribution, Television and Movie Rights Synchronization. Palace Music Group, LLC is comprised of knowledgeable individuals operating with the right mixture of leadership, talent cultivation, foresight, planning, timing and game plan execution. Palace Music Group distributes unsigned independent artists from ALL genres.
Thursday, March 31, 2016
Jay Z Accuses Previous Tidal Owners of Exaggerating Subscription Numbers
Jay-Z is suing TIDAL's former owners, claiming there untruthful about the amount of subscribers the streaming service had upon selling the company to the rapper.
According to Music Business Worldwide, Jay Z is seeking $15 million from the former shareholders of Aspiro, the parent company of TIDAL. This translates to about 100 million Norwegian Krone. The Rap mogul acquired the streaming service for a reported $57 million. He was told that TIDAL had 530,000 subscribers as of January 2015 and now says that figure was "misleading." Badboy Family Re-Unite
Hov adds to his suit the fact that the owners were not transparent about the condition of Aspiro's business structure, which the rapper says was much worse than reported.
One of the shareholders, Schibsted, says it did nothing wrong in the business transaction.
"We want to point out that it was a publicly traded company that was acquired, [which means] transparency of financial reporting [was required]," Communications Manager Anders Rikter said to Norwegian publication Dagens Næringsliv. "Otherwise we have no comments.”
Upon its one year anniversary, TIDAL reported three million subscribers worldwide. Kanye West's The Life of Pablo was reportedly streamed 250 million times in the first 10 days after its February release. Follow Tha' Baddest Radio Station Online right here: http://ow.ly/10bf1T