Report: Prince Estate Quashes Jay Z’s $40M Deal To Stream Unreleased Recordings On Tidal

Prince’s unreleased recordings won’t be showing up on Tidal, with the late “Purple Rain” singer’s estate quashing a potential $40-million deal which would have seen the music stream exclusively on Jay Z’s streaming service, Tidal.

According to TMZ, “sources involved in the deal tell TMZ the estate fired off a letter to Jay’s team last month, saying it had no interest in signing a deal for ‘Roc Nation to exploit any of the intellectual property assets of the Estate.'”

RELATED: Jay Z Reportedly Makes $40 Million Bid For Prince’s Unreleased Music

A large part of the reason the deal fell through, adds TMZ, is that the estate became aware that, prior to Prince’s death, Tidal made 15 Prince albums available for its subscribers to stream — but had not been authorized to do so.

And while the estate acknowledges Tidal did make a deal to stream Prince’s final album, “HitNRun Phase One”, the estate claims its accountants can find no proof of the final $750,000 payment that would close the deal.

Bottom line: not only will Tidal not host Prince’s unreleased music, but also faces some hefty payments to the Prince estate.

 

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