Jay Z's Tidal music streaming service more than doubled its losses last year

[Jimi Swagger]

Jay Z's music streaming service, Tidal, lost $28 million last year, according to a legal filing reviewed by The Wall Street Journal.

That's twice as much as it lost in the year before Jay Z took control of Aspiro, Tidal's Swedish holding company.

In 2015, Aspiro lost 239 million Swedish kronor, while in 2014, it lost 88.9 million. Tidal has also reportedly failed to pay over 100 outstanding bills.

There is a slight silver lining, however. As Tidal's losses accelerated, so did revenue, which rose 30%.

The landscape
Tidal is far from the only music streaming service that isn't profitable. Market leader Spotify had an operating loss of 184.5 million euros in 2015, compared with 165.1 million in 2014, Reuters reports. Spotify's revenue rose 80% in 2015.

Tidal said that, as of June, it had 4.2 million paid subscribers. That is well behind Spotify's 39 million (August) and Apple Music's 17 million (September).

Tidal's strategy for getting new customers seems to rely heavily on high-profile exclusives from the likes of Kanye West, Rihanna, and Beyoncé. But while those exclusives seem to have been effective in signing people up, they don't seem to have been as good at retaining them as loyal customers.

 

[plushcarpet]

their first mistake was calling it tidal
what an awful name

sounds like a pill you take after a questionable night with a bar rat

 

[PikaDaDon]

Alot of people in the black community are rooting for his failure. Crabs in the bucket

 

[Jimi Swagger]

their first mistake was calling it tidal
what an awful name

sounds like a pill you take after a questionable night with a bar rat

Or charge 19.99+ for HD service that hogs 30% more bandwidth most mobile devices can't handle and doubles network data usage.

 

[Dusty Bake Activate]

Dumb down for your audience to double your losses, brehs.

 

[plushcarpet]

Or charge 19.99+ for HD service that hogs 30% more bandwidth most mobile devices can't handle and doubles network data usage.

i didn't know any of that

 

[CHL]

Dumb down for your audience to double your losses, brehs.

 

[theworldismine13]

i used a university email and i get tidal for 4.99, i dont use it a lot, its good if you want to listen to prince

 

[No1]

Or charge 19.99+ for HD service that hogs 30% more bandwidth most mobile devices can't handle and doubles network data usage.

Streaming services don't count against network usage.

 

[Jimi Swagger]

Streaming services don't count against network usage.

5 apps that are quietly killing your data plan
What is Offline Mode?

 

[No1]

5 apps that are quietly killing your data plan
What is Offline Mode?

Nah. People like t mobile specifically exempt streaming services.

 

[wire28]

i dumbed down for my audience to double my losses -

edit:

Dumb down for your audience to double your losses, brehs.

dammit

 

[Kilgore Trout]

Youtube just started turning a profit a few years back

c00n ass nikkas so quick to throw a black company under the bus

 

[Robbie3000]

Youtube just started turning a profit a few years back

c00n ass nikkas so quick to throw a black company under the bus

I don't even care for Camel, but I wish him success on this venture. Let's not celebrate the misfortune of other black man...even smug, materialistic, biting ass Camels.

 

[Tom Foolery]

Youtube just started turning a profit a few years back

Link?