Tidal Is Reportedly Out Of Cash And On The Verge Of Failure

ByAmy Lamareon December 21, 2017inArticles›Entertainment

Remember when a bunch of super wealthy celebrities got up on stage and announced their answer to Apple’s iTunes, Spotify, Pandora, and other music streaming services? It was the spring of 2015 and Jay Z , Kanye West , Nicki Minaj , Madonna , Chris Martin , Daft Punk and others hopped on board and promised it would be the first place you could hear new music from artists like Rihanna and Beyoncé . Tidal was going to differ from other music streaming services because it was going to be artist owned.

A new report from a Norwegian newspaper alleges that Tidal lost $44 million before taxes last year. To add insult to injury, its user base has also stalled. It is widely thought that Tidal has only six months of capital left to work with before the company completely runs out of money.

Tidal Is Reportedly Out Of Cash And On The Verge Of Failure - 1

Jamie McCarthy/Getty Images

For comparison, Spotify lost about $581 million in 2016. However, Spotify also had $3 billion in revenue for the same time period.

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  • Jay-Z Is Now Worth $650 Million Thanks To Tidal
  • The 16 Partners In Jay-Z’s New Streaming Service “Tidal” Have A Combined Net Worth Of $2.8 Billion
  • Jay-Z’s Music Company Tidal Seems Destined To Fail… So What Went Wrong?