Music streaming service Tidal has reportedly failed to pay over 100 outstanding bills, according to Norwegian newspaper Dagens Næringsliv.
The newspaper obtained the company’s 2015 annual report, which outlines its financial status. The document says that the three companies that form Tidal have 107 default notices on unpaid bills between them.
Dagens Næringsliv says that over 100 of the default notices have been incurred since rapper Jay Z took control of the companies in March 2015. Tidal was not immediately available for comment on its unpaid bills.
The Norwegian newspaper says Tidal owes 30,800 NOK (£2,800) to a music festival that has been chasing the money since 2014. “I don’t understand it. It seems a complete mystery,” said Alexandra Archetti Stølen of the Oslo World Music Festival on Tidal’s alleged refusal to pay the money it owes.
Other outstanding debts reportedly include 1.15 million NOK (£104,000) owed to the company that owns Tidal’s head office, 183,735 SEK (£16,200) to its auditor Grant Thornton, and 150,000 NOK (£13,600) to music festival Bylarm. Dagens Næringsliv reports that Tidal also owes money to taxi companies, record labels, advertising agencies, hotels, and banks.
One bill has been paid, however. Dagens Næringsliv says that a 51,250 NOK (£4,600) restaurant bill was settled in June after the restaurant had to start a debt recovery process against the streaming company.
The backlog of unpaid bills is in contrast to Tidal’s public image, which characterises the streaming service as a fair alternative to companies like Spotify and Apple. Musicians such as Madonna and Daft Punk signed a pledge promising to support musicians.
“We want to create a better service and a better experience for both fans and artists,” said Tidal co-owner Alicia Keys at its launch event in New York.
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