Despite the support of many celebrities and extravagant events held, the new music streaming service launched by Jay Z and other stars is showing signs of failure. After being online for less than a month, the competitor of Spotify and Pandora has already dropped out of the iPhone top 700 downloads chart.

Back in March 2015, Jay Z bought Aspiro, the company behind Tidal, for $56m. The artist said that the celebrities wanted Tidal to be the first artist-owned music streaming platform, where 75% of revenues would be paid back to the music industry, while other services offer only 50%.

However, despite the celebrity fanfare, Tidal already shows early signs of failure. This may be not of a much surprise due to several reasons. First of all, the service comes with a higher price tag than the competitors, asking for $20 per month. In addition, it has no free, ad-supported option. For this fee, Tidal provides access to 25m tracks, similar to Spotify, but its advantage is in offering a lossless high-fidelity sound quality and HD music videos and music playlists curated by such stars as Jay Z and Beyoncé.

Apparently, these advantages are not enough to encourage people to part with Spotify and other services. According to statistics, while Tidal has fallen down the app charts, Spotify and Pandora have soared to take 3rd and 4th places – the first time two music streaming services have hit the top 4 in sales simultaneously.

Industry observers believe that Tidal simply didn’t have what it takes to dominate the already crowded streaming market. In addition, the future of the service is quite questionable, because both Apple and YouTube are going to launch their music streaming platforms soon.