Jay Z's Streaming Service TIDAL Is Reportedly Running Out Of Money

Jay Z's Streaming Service TIDAL Is Reportedly Running Out Of Money

Carla Harmon
December 14, 2017

However, based on a report from Norway's Dagens Næringsliv, Tidal may only have enough funds to last another six months.

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

Some of its exclusive deals fell apart over time most notably with Prince's estate pushing into other streaming services after his death, and Kanye West terminating his exclusive contract over payment disputes. This comes after Sprint bought a 33 percent stake in the company for a reported $200 million. Tidal is reportedly still expecting to achieve profitability by the middle of next year. Tidal has reportedly list NOK$368 million (about $44 million) a year ago (before taxes).

As a result, Spotify and Apple have about 90 million subscribers between them, while Tidal, which does not reveal its subscriber numbers publicly, is widely believed to have less than one million.

Tidal, which has its headquarters in Oslo, appears to have only six months left of working capital.

Tidal has been steadily growing in the past several years, at least according to Jay-Z himself.

Tidal's selling proposition is that it offers better music streaming quality compared to the likes of Spotify or Apple Music. It cost $9.99 for the standard premium service, and $19.99 for the lossless, high-fidelity service. As always, feel free to sound off in the comments section below!

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