Tidal To Run Out Of Cash In Six Months

Jay Z og de andre eierne har tapt godt over en halv milliard kroner til sammen siden de kjøpte strømme­tjenesten Tidal i 2015

The site reads that the service's user growth has depleted, and the company reportedly lost $44 million before taxes previous year.

For comparison, Spotify is killing the competition with an estimated 60 million subscribers, while Apple Music has more than 30 million - light years ahead of Tidal, even if the 3 million subscriber count is even close to being accurate.

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. We can't imagine Jay-Z won't go down without a fight. Beyond the perks, though, that money may be drying up fast for TIDAL come the summer of next year. Spotify lost an estimated $581M a year ago against revenue of $3B. Spotify charges $9.99 a month for Premium, but users can also use the service for free.

In 2015, Jay-Z claimed Tidal hit the 1 million subscriber milestone.

Unless a vehicle requires it, premium gas largely a waste, study finds
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Back in March 2015, the likes of Jack White, Chris Martin, Daft Punk, and Kanye West, Jay Z united to back Tidal to change the course of music history - but since then the service has been plagued by problems with signing on artists, low membership and pricing (asking all users to shell out $19.99 per month) since Jay-Z acquired Aspiro. Dagens Næringsliv later disputed these figures.

"We have experienced negative stories about us since we started", a spokesperson said in a statement to U.S. media, "and we have done nothing but grow the company year after year". The company reportedly claims it will break even soon, before achieving profitability sometime next year.

In August, Tidal bagged its fourth CEO in just over two years. Ever since, Tidal has chosen to keep mum about subscriber numbers.

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