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Post by Guest*** on Dec 14, 2017 18:38:29 GMT
From RWS:
From Endgaget
Music streaming service Tidal is facing both money and user growth woes, according to Norway's Dagens Næringsliv. After reportedly losing roughly NOK$368 million ($44 million dollars) before taxes in 2016, Tidal is now left with just enough cash to last six months. This despite Sprint buying a 33 percent stake in Jay-Z's streaming service in January. The $200 million deal, which included a reported $75 million fund for exclusive content, should've given Tidal "sufficient working capital for the next 12-18 months," said Jay Z's business partner and Roc Nation Sports president Juan Perez (via DN).
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Post by Guest*** on Dec 14, 2017 18:40:33 GMT
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Post by Guest*** on Dec 14, 2017 18:50:05 GMT
“Only Have Enough Cash to Last Six More Months“
There are plenty of music streaming services out there to choose from, and Tidal is one of them, with the focus being on audio quality.
According to a report from Dagens Næringsliv (by way of Engadget), Tidal is facing a current run-off of not only money, but also users. The company reportedly lost NOK$368 million (~$44 million) before taxes in 2016, and, as a result, apparently only has enough cash to keep the lights on for another six months. Earlier this year, Tidal made the news cycle with a report that said the company was inflating its subscribers number, and when Sprint bought a 33% stake of the streaming music platform.
According to Engadget, Tidal is still planning on breaking even soon, and still aiming to reach profitability sometime by mid-2018.
As it stands right now, following the subscriber numbers fiasco earlier this year, Tidal has not revealed its subscribers numbers, so it is certainly possible that the company has been losing customers throughout the year. This latest report indicates that Tidal may not be around for much longer.
From: iPhone Hacks
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Post by Guest*** on Dec 14, 2017 19:00:46 GMT
Tidal’s year began on a much better note. In January, it joined forces with Sprint to take on Spotify and Apple Music. The deal gave Sprint customers exclusive content through the service.
At the time, Jay-Z’s business partner and Roc Nation Sports president Juan Perez reportedly said that the Sprint investment would give Tidal “sufficient working capital for the next 12-18 months.”
Back in 2016, Apple held talks with Tidal about a possible acquisition. Soon after, Jimmy Iovine, the head of Apple Music, said that no acquisition was forthcoming, telling BuzzFeed News, “We’re not looking to acquire any streaming services.”
Jay-Z and other artists, including Rihanna, Kanye West, Madonna, and Nicki Minaj, purchased Tidal in 2015 for $56 million.
On Jan. 21, Dagens Næringsliv reported that Tidal had been inflating its subscriber totals. The publication said internal reports showed that service only had 350,000 subscribers in September 2015. This was the same month that Jay Z tweeted that Tidal had reached 1 million users.
As of now, Apple Music has 30 million monthly subscribers, half that of No. 1 Spotify.
I WONDER WERE ALL THAT MONEY WENT? I hope they paid their taxes?
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Post by beydunce on Dec 15, 2017 13:22:01 GMT
Haha what a mess!
So I guess next we'll hear they bought a zillion dollar mansion and they're worth 1.5 billion!
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topaz
Senior Member
Posts: 106
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Post by topaz on Dec 17, 2017 21:00:05 GMT
Jay is reported to had received $200 million from Sprint. What did he do with the money? I'm guessing he paid back old Tidal bills, paid the lawyers on the lawsuit that he has against the original owners of Tidal or used the funds to buy Bey those mansions because people were calling then homeless on countless comment sections.
Bey & Jay are reportedly worth hundreds of millions of dollars, why aren't they using their own funds to bail out their own streaming service? I also thought Alicia Keys, Rihanna, Madonna and others were part owners of Tidal. Why aren't all of those part owners doing their part to save Tidal? Something is really fishy. I guess none of those millionaire Tidal owners care about Tidal's survival. When was the last time you heard of any exclusives on Tidal? All I hear are ways to subscribe. Madonna was recently seen flying coach so I know she ain't trying to save Tidal.
I'm thinking those part owners are probably mad at Jay for leading them down a rabbit hole. Kanye leaving Tidal may have been the only publicized one. Tidal's latest downfall explains why Jay was giving shutouts to Kanye during his Chicago concert and in his latest sit down interview. Kanye was crazy loyal to Tidal. You can say he kept the machine running with his exclusives. I'm so glad Kanye left Bey & Jay's side. Although Kanye is now certified crazy, he is now finally constantly on his meds and seems to enjoy being a father instead of running himself in the ground and ruining his reputation defending Bey, producing Jay's CDs and making Tidal exclusives. I think Jay needs Kanye for Tidal and his musical production survival. I hope the Grammy's snub Jay worst than Bey because Jay clearly stated he'd never make conscious rap because it didn't sell. Now because conscious rap is the in thing to do & Kendrick/J Cole are making serious money doing it, he wants to be hailed as the greatest conscious rapper alive.
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Post by missy on Dec 18, 2017 20:20:23 GMT
Preach Topaz👏👏
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Post by nicki on Dec 19, 2017 1:19:40 GMT
You are making too much sense. I'm now wondering if that little video and stage show was nothing but PR. None of them really ever promoted the service. Have we ever seen documentation showing the people on that stage are really part owners of Tidal?
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