Is Jay Z's Tidal in trouble?

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As competition from rivals Spotify and Apple Music increases, the Jay Z-backed streaming service Tidal is said to be facing money problems, according to Norway's Dagens Naeringsliv.

Following the Dagens Næringsliv report, Tidal denied that it's on the rocks, saying in a statement that: "We have experienced negative stories about Tidal since its inception and we have done nothing but grow the business each year".

A new report suggests that the company could be in trouble. Tidal said a year ago it had hit 3 million subscribers, but the newspaper claimed the number was closer to 1 million.

This seems to go against the report which states that Tidal apparently lost as much as $44 million before taxes previous year, although the company seems to believe that they will be able to break even and possibly even achieve profitability mid-2018.

JAY-Z's Tidal may be on the verge of sinking.

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He was acquired from Texas in a trade for Prince Fielder and batted.275 with 78 home runs, 300 RBIs and 401 runs for the Tigers. He was productive the last four years with the Tigers, although his batting average fell in 2017 to a career low.

In January, Sprint poured $200 million in the company that Jay Z created. For losses of $581 million, it recorded earnings of $3 billion. The music streaming service was start producing content available exclusively to Sprint customers after the deal.

Back in 2015, Young Hov and other top-tier entertainers pushed TIDAL as a service to help fellow musicians. Of those users, Tidal said at the time, 45 percent had selected the lossless $19.99 per month plan.

Since then, West left Tidal and the two have traded legal pleasantries about their future, according to a report from TMZ.

Jay Z is yet to respond to the report.