TIDAL Could Run out of Money in Just Six Months
And not for the first time.
Despite Jay-Z being named one of the world’s highest-paid musicians, his Tidal streaming service is reportedly suffering from financial difficulties. According to Norwegian business paper Dagens Næringsliv, TIDAL is facing both cash flow and user growth issues, leading to the service having enough funds to last just six months.
The news comes less than a year since TIDAL received investment from Sprint, with the mobile company taking a 33 percent stake. It also isn’t the first time that the streaming service has been in poor financial health, with huge losses reported in 2015 as well as repeated disputes regarding subscriber numbers and the company losing three CEOs in just two years.
As it stands, TIDAL hasn’t confirmed the news, although the company told Engadget in a statement that “We have experienced negative stories about Tidal since its inception and we have done nothing but grow the business each year.” In other music news, watch SZA bring out Chance The Rapper in New York.
