• Home
  • About
  • Work with us
  • Advertisement

  • Business
  • Life&Culture
  • Electronics
  • Research
  • Sport
  • People
  • Medical
  • National
  • Finance
  • Entertaiment
  • Industry
  • Global

Tidal running out of cash fast, claims new report

  • by Leticia Walters
  • in Life&Culture
  • — Dec 15, 2017
Share:

And all this comes after Sprint's $US200 million ($263 million) investment into Tidal in earlier this year. The company is reportedly hemorrhaging money and has enough cash left to stay afloat for only six more months.

TIDAL claims that it expects to run out of cash in 2018, but will be profitable. For example, Spotify, the music streaming market leader, lost over $580 million in the same period. At the time, it gave Tidal "sufficient working capital for the next 12-18 months", according to DN. But music streamers do not seem to care about audio quality as much as price, and Spotify and Apple Music both offer their services for $9.99 per month. Prior to this year's Sprint deal announcement, Tidal claimed to have surpassed 3 million paid subscribers.

Jay-Z and other owners are said to have lost more than half a billion dollars since they bought Tidal. According to the report, Tidal lost the equivalent of $44 million past year and, since then, its subscriber growth rate has stalled to a halt. The company reportedly claims it will break even soon, before achieving profitability sometime next year.

Former Ole Miss QB Shea Patterson Will Transfer To Michigan
Patterson, a Toledo native, was the No. 1-ranked pro-style quarterback in the class of 2016, the same class as Brandon Peters. Patterson's younger brother, Nick, played as a tight end as a freshman for Biloxi High in 2016.

The Norwegian newspaper previously questioned Tidal's subscriber numbers after the service claimed it hit the 1 million number. Dagens Næringsliv later disputed these figures.

In a statement to The Jolt Journal, Tidal spokesperson said that "We have experienced negative stories about Tidal since its inception and we have done nothing but grow the business each year".

Share:

IN CASE YOU MISSED IT

  • North Korea's Kim Jong Un fetes rocket scientists, promises more weapons
  • Mobile acquires Denver's Layer3 TV, aims to disrupt industry
  • 2 dead after shooting at Penn State Beaver
  • YOU MAY ALSO LIKE...

    • Nadal advances to 12th Monte-Carlo Masters final in past 14 years 4/22/2018
    • Natalie Portman snubs Israeli award ceremony over 'distressing' events 4/22/2018
    • Trump says he doesn't think lawyer Michael Cohen will 'flip' 4/22/2018
    • Ariana Grande unveils emotional new single 4/21/2018
    • South and North Korea established a direct channel of communication 4/21/2018
    • Smallville's Allison Mack arrested over 'sex cult ties' 4/21/2018
    • Evan Rachel Wood will receive equal pay for 'Westworld' Season 3 4/21/2018
    • Pittsburgh prepares officers for possible riots in case Trump fires Mueller 4/21/2018
    • Qualcomm Cutting Jobs to Live Up to Promise of Slashing Costs 4/20/2018
    • Cavs Tristan Thompson, Khloe Kardashian name their daughter "True" 4/20/2018

RELATED NEWS

Life Is Strange Goes Mobile, Coming to iOS This Week
Life is unusual follows high schooler Max Caulfield, who discovers she can rewind time while saving her best friend Chloe Price. A three-episode prequel; Life is Strange: Before the Storm , is now underway on PS4, Xbox One and PC.
12/15/2017

Bitcoin Futures Surge in Debut
Heightened excitement ahead of the launch of the Cboe futures gave an extra kick to the cryptocurrency's scorching run this year. Cryptocurrency news can break at 3 am NY time just as easily as 3 pm, and "pajama traders" need real-time information.
12/15/2017

Facebook to cease diversion of worldwide ad revenue via Dublin
For Ireland, the value of Facebook's headquarters here is mainly the jobs created not the corporation tax it pays, Mr Coffey said. Ireland has now opened an account for Apple to deposit the money in, though both it and Apple have appeals against the decision.
12/15/2017

NYC Port Authority explosion was attempted terror attack
O'Neill said it wasn't clear whether the suspect detonated the device by accident or whether the location was intentional. A photo taken shortly after the explosion shows a bearded man on the ground, with his hands in cuffs behind his back.
12/15/2017

Mourinho slams Manchester derby penalty decision in programme notes
When asked if there was a hangover after losing to Pep Guardiola's men, Mourinho said: "Fatigue, yes, but hangover - no". City insiders say their players and staff did nothing wrong and were reacting to Mourinho's aggressive manner.
12/14/2017

Magnitude 6.2 quake hits Kerman province in Iran
The natural disaster , which hit at 2.32am GMT, was initially recorded at a magnitude of 6.3 but was later downgraded to 6.0. In the epicenter of the quake, which struck at about 01:41 local time, the tremor measured magnitude 8 points.
12/14/2017

Great viewing for Geminid Meteor Shower tonight
While the forecast will be warmer than last night, temps are still expected to be very cold with another windy night expected. The best viewing conditions in the country will be across the southern and western US , where not many clouds are expected.
12/14/2017

Two Palestinians killed in Gaza, Israel denies claim of attack
The last week has seen the largest number of rockets fired at Israel from the Strip since the 2014 Gaza war. Residents who witnessed the incident identified the two men as members of the Islamic Jihad militant group.
12/14/2017

Rohit Sharma's 208*: A look at the record knock in numbers
In the absence of regular skipper Virat Kohli , Rohit led from the front and sent the Lankan bowlers on a leather hunt. A host of records were broken on the day that saw Rohit reach his 16th ODI hundred en route to a double hundred.
12/14/2017

Shannon Airport expected to be unaffected by Ryanair pilots' strike
The airline said last week it would "ignore" the Italian move, claiming staff rarely heeded calls to walk out. Members voted overwhelmingly in support of strike action - 94 per cent in favour of industrial action.
12/13/2017

A new Harry Potter RPG is coming in 2018
In 2018, the studio will release the second of five planned Fantastic Beasts spinoffs. The app game will be coming to Apple, Android, and Amazon devices.
12/13/2017

Man charged with terror counts after NYC subway bomb attack
The pipe bomb failed to detonate fully and Ullah was the only person seriously wounded by the blast. . The source said the explosion, if it had detonated properly, "could have inflicted a lot more harm".
12/13/2017

Alleged 2018 Nokia 6 leaked in TENAA certification
Earlier there was a confusion regarding the new leaks in China that TA-1054 is not about Nokia 9 , It is for Nokia 6 2018 . What exactly the Nokia 9 will do to set itself apart from the updated models of older Nokia phones remains to be seen.
12/13/2017

Wayne Rooney rescues Everton draw against derby rivals Liverpool
After it was put to the German that the studio panel believed that a penalty was the correct decision, he sarcastically conceded defeat in the debate. "Yes.
12/13/2017

Internet personalities tell FCC to cancel net neutrality vote
The five-seat body is now controlled by a Republican majority, and Pai's plans are expected to be approved with few issues. Last week, more than a couple of dozen Democratic senators called for a delay of the FCC vote .
12/13/2017

    • Top picks

      • John Oliver's HBO Show Bought Russell Crowe's 'Cinderella Man' Jockstrap for $70004/17/2018
      • Beyoncé reunites with Destiny's Child at Coachella, praises HBCUs4/16/2018
      • Pep won't change his golf day for no Championship4/16/2018
      • Mourinho Blames Man United's Players For West Brom Defeat4/16/2018
    • Weekly News

      • 'Amadeus' director Milos Forman dies at 864/15/2018
      • Justice Department inspector general says McCabe repeatedly mislead4/14/2018
      • Kardashians flock to Khloe after rumors of cheating and labor pains4/13/2018
      • Yankees/Red Sox Rivalry Escalates Into Bench-Clearing Brawl4/13/2018
    • Latest News

      • The Queen's Last Corgi Has Died4/19/2018
      • Blake Shelton Reveals If He 'Thinks About' Marrying Gwen Stefani4/18/2018
      • Suspensions and Fines Handed Down After Last Night's Red Sox/Yankees Brawl4/17/2018
      • Night Court' actor Harry Anderson dies at 654/17/2018
    • Home
    • About
    • Work with us
    • Advertisement

    Sunday 22 April 2018

    © 2018 . ALL RIGHTS RESERVED.