New Report Claims Streaming-Service TIDAL Is Running Out Of Money
Could Tidal be in trouble? According to Norwegian news source Dagens Næringsliv, the JAY-Z owned streaming service is reportedly facing some pretty severe money woes.
The site reads that the service's user growth has depleted, and the company reportedly lost $44 million before taxes last year. DN claims that Tidal has about six months left of capital left before they run out of money completely.
In a statement, a spokesperson for the company said "We have experienced negative stories about Tidal since its inception and we have done nothing but grow the business each year.”
Earlier this year, the same publication reported that Tidal inflated the number of subscribers to the service, which frequently drops exclusive music videos and features, such as Jay-Z's 4:44 album and accompanying visuals. It's reported that Tidal has around 3 million subscribers, although there are conflicting reports on the validity of those numbers.