TIDAL Could Run Out Of Money In 6 Months

The idea was beautiful. The artist-run, artists-owned and artist-owned streaming platform made a huge splash right from its launch in March 2015. JAY-Z then reunited the music industry’s best, from Kanye West to Daft Punk via Rihanna, J. Cole and Madonna, all of whom became shareholders of TIDAL. But less than three years later, the report is far from being so idyllic. The streaming platform of JAY-Z would be in great financial difficulty and the crates would not be far from empty. According to the Norwegian media Dagens Næringsliv, TIDAL would have enough money to survive another six months, but not beyond.

Declining in terms of funding and number of subscribers, the streaming platform suffers from competition with Spotify and Apple Music. According to the trade press, TIDAL would lose several tens of millions of dollars each year (44 million in 2016) and therefore soon no longer have enough funds in the caisses to be able to continue to exist. The mobile operator Sprint had however invested more than 200 million dollars in TIDAL a few months ago in order to relaunch the activity of the platform and ensure him between 12 and 18 months of financial break according to the site Engadget. It is clear that this rescue operation has probably failed.

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