Norwegian newspaper Dagens Næringsliv says that Jay Z’s music streaming service is losing 10’s of Millions of dollars a year and are on track to be completely broke within 6 months. Since Jay Z took over in 2015 Tidal has lost over $60 Million dollars and $44 Million of that was lost in 2016 alone.
A spokesman for Tidal had this to say “We have experienced negative stories about Tidal since its inception and we have done nothing but grow the business each year,” the spokesperson told the New York Daily News in a statement.
Tidal has always been fighting a uphill battle. Spotify and Apple Music have a combined 90 Million subscribers while Tidal only has between 1-3 Million.
REPOST from VLADTV