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Tidal in financial crisis, might shut down in the next six months

14 December 2017 2

Jay Z’s Tidal music stream service was trending around when it hit 3 million paid users at the start of 2016 when talks of Apple acquiring the service popped in. While the service added support for Chromecast on iOS and Android in addition to a Track Edit feature to tweak a song, it did lack in functionality when compared to the industry’s top faces in music streaming.

Amidst its user growth issues, Tidal is facing financial woes as well after having lost close to $44 million last year. Jay Z’s music streaming service might just have a little under six months to last on its own, that, keeping in mind Sprint just invested in a 33% stake at the company earlier this year. The deal which was worth $200 million was supposed to provide $75million in funding for exclusive content, enough money to survive for the next one and half year.

In the middle of claims that the company might break anytime soon, some saying before even the profit accountability next summer, a Tidal spokesperson said

We have experienced negative stories about Tidal since its inception and we have done nothing but grow the business each year.


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Tidal in financial crisis, might shut down in the next six months
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DianaAngela

I didn't ever think that I"d read anything about Tidal like this. Jay Z is in itself a big name and reading something like this about the company isn't very warm.

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