Home

[XXX.]

Report Alleges That Tidal Is Almost Out of Money

Tidal reportedly lost roughly $44 million in 2016.

The hefty loss estimates arrive view a new Verge-spotted report from Norway's Dagens N?ringsliv, the same business-centric newspaper that earlier this year alleged that Tidal had been exaggerating its subscriber stats. The new report also claims the streaming service, which was acquired by Jay Z back in 2015 and secured a Sprint stake this January, has about six months of capital remaining.

Of course, other streaming services reported losses during 2016. Spotify, for example, lost an estimated $581 million last year against revenue of $3 billion. Prior to this year's Sprint deal announcement, Tidal claimed to have surpassed 3 million paid subscribers. Of those users, Tidal said at the time, 45 percent had selected the lossless $19.99 per month plan. Dagens N?ringsliv later disputed these figures.

"We have experienced negative stories about Tidal since its inception and we have done nothing but grow the business each year," a Tidal spokesperson told Verge Tuesday. Tidal is reportedly still expecting to achieve profitability by the middle of next year.

In August, Tidal bagged its fourth CEO in just over two years. Former Kobalt Music Group boss and Sony Music global marketing prez Richard Sanders took over for Jeff Toig, whose exit was announced in March. Toig, a former SoundCloud exec, had been CEO since January 2016.

Jay's Grammy-nominated album 4:44 launched as a Tidal x Sprint exclusive in June, the latest in a series of exclusives for the platform that's previously given similar rollouts to Kanye West's The Life of Pablo and Beyonc?'s Lemonade.

http://www.complex.com/music/2017/12/report-tidal-almost-out-of-money

A new report from Norway?s Dagens N?ringsliv claims that Tidal is running out of money while user growth has stalled. The report suggests that Tidal may only have around six months of working capital left.

In a statement to The Verge, a Tidal spokesperson said, ?We have experienced negative stories about Tidal since its inception and we have done nothing but grow the business each year.?

Tidal reportedly lost NOK$368 million (around $44 million) before taxes last year, according to DN. Still, for comparison, Spotify?s 2016 losses were around $581 million, though revenue was around $3 billion.

At the start of this year, Sprint purchased a 33 percent stake in Tidal. At the time, Jay Z?s business partner and Roc Nation Sports president Juan Perez reportedly said that the Sprint investment gave Tidal ?sufficient working capital for the next 12-18 months,? according to DN. Tidal reportedly claims it will break even soon and then achieve profitability in mid-2018.

Tidal has not given any public subscriber updates in the months since the Sprint investment. Earlier this year, Dagens N?ringsliv also reported that Tidal had been inflating subscriber numbers. Tidal claimed in 2016 that it had 3 million subscribers, but DN found that the number was closer to 1 million. In 2016, Jay Z said that the company he bought Tidal from had also been inflating numbers.

Meanwhile, Spotify announced this summer that it had more than 60 million subscribers, while Apple Music has more than 30 million.

https://www.theverge.com/2017/12/12/16768650/tidal-money-problems-sprint-investment

[Bulldagger]

Well, maybe this will help Fleaonce put her albums on Spotify and Apple Music so they can sell more streaming wise. Lets be honest Tidal was keeping her from being laughed at because we know Rihanna will still own her even if her music was on every platform.

[Lazarus]

   

[ya rock muh world.]

 

[Young]

The way Tidal is about to skyrocket into something amazing has me shook

[RatherBe]

wow. hope this true.

[XXX.]

Is this why he looks 60 and like a homeless person these days?

KI.

We don't know if it's true, but I'm sure he's begging Beyonce to drop an album soon.  Wouldn't even be surprised if the joint drops. 

[Nine]

Bey sis. If you don't let this shit die and stop playing captain-save-a-ho.

[BAPHOMET.]

Just in time..

[Young]

Bey sis. If you don't let this shit die and stop playing captain-save-a-ho.

Tidal is the future bby luv

[XXX.]

Just in time..

What a YEAR! 

[Bulldagger]

This is why they took a loan for their mortgage. lol. How is Jay Z going to educate me about business when he's a failed business man that is solely still relevant because of his wife, whose popularity is dying?

[Young]

If you look at the amount of subscribers to money they?re kinda slaying Spotify and them

This growing company >>>

[b7]

The way Tidal is about to skyrocket into something amazing has me shook

fgghhhhhhhjj the things you Stan for be going THROUGH

[RatherBe]

oh looka here! another thread bull'shit is in discussing bey. glorious.