Jay Z's recently launched music streaming service Tidal is already in danger of closing. Following its release a few weeks ago, the service received pretty good following on iTunes. However, a few weeks later, the service dropped out of iTunes' top 700 downloads.
Following such reports, multiple sources are now noting that Tidal could close any time soon. However, Jay Z is adamant at saying that their music streaming service will be around for the long haul, The Daily Beast reported.
"Tidal is doing just fine. We have over 770,000 subscriptions. We have been in business less than one month," Jay Z tweeted over the weekend.
In a follow up tweet, Beyonce's partner reminded his followers how some of the most popular music streaming services reached their success.
"The iTunes Store wasn't built in a day. It took Spotify 9 years to be successful. We are here for the long haul. Please give us a chance to grow & get better," Jay Z wrote.
Meanwhile, fans and other musicians had mixed reviews about Tidal - a joint venture among some of the biggest names in the music industry including Rihanna, Kanye West and Madonna, according to Rolling Stone.
Death Cab for Cutie's Ben Gibbard said, "I think they totally blew it by bringing out a bunch of millionaires and billionaires and propping them up onstage and then having them all complain about not being paid."
However, Jay Z previously clarified that the music streaming service pays 75 percent royalty to all artists and not just to the most popular ones.