Hip-hop superstar Kanye West, a founding shareholder of TIDAL, has reportedly disassociated himself from the platform – claiming it owes him more than $3m.
According to TMZ, sources close to West have revealed the the artist’s camp sent TIDAL a legal letter a month ago, claiming the streaming firm was in breach of contract.
Two weeks ago, says the site, West’s lawyer sent another letter declaring he considered his business relationship with TIDAL over.
West’s last studio album, The Life Of Pablo, was released in February last year and remained a TIDAL exclusive for its opening six weeks.
West, says TMZ, claims that the album brought 1.5m new subscribers to TIDAL – and that he should have been paid an agreed bonus as a result.
In addition, it says West believes he hasn’t been reimbursed for the release of music videos.
For its part, TIDAL reportedly believes that West didn’t deliver the agreed volume of music videos to the service.
It has also apparently sent the star a letter saying that he is still considered under exclusive contract – and that if he starts colluding with rival streaming sites, TIDAL will sue him.
Kanye West was one of 16 artists given shares in TIDAL after the streaming company was purchased by the Jay Z-led Project Panther Bidco in March 2015. Those artists were believed to have each received 3% equity stakes.
In January this year, telco Sprint acquired a 33% stake in TIDAL for $200m.Music Business Worldwide