Bad news for Jay Z's Tidal as it drops out of the iPhone chart
Falls out of the top 700 downloads list
It all started when some of the world's biggest celebrities – Rihanna, Beyoncé, Madonna, Kanye West, to name but a few – turned their social media blue, sparking a social media frenzy. It soon transpired that the aqua hue was in honour of Jay Z's new business, the world's first artist-owned music streaming service, Tidal.
The Tidal launch event saw an incredible line of the world's most powerful musicians sign to be a part of the empire, which includes a stake in the shares. The aforementioned artists together with Chris Martin, Nicki Minaj, Usher and many more all declared their support for the promising new venture.
Now, fast forward one month and it's looking a little bleak for Jay Z, as it is announced that Tidal has dropped out of the top 700 downloads list in the iPhone chart. The app, which pays its artists higher royalties than its competitors including Spotify, received backlash from the likes of Lily Allen and Mumford and Sons, who claimed that it is just deepening the pockets of its already mega-rich backers and ignoring up and coming musicians.
Its key competitor, Spotify has also just received a whopping $8.4 billion valuation after it welcomed $400 million in funding, which means that it has the same worth in dollars as the entire music industry.
In another twist, Kanye West deleted all of his tweets about Tidal, and has since backtracked – read the strange story here.