Jay Z’s TIDAL Lost Nearly $30 Million Last Year

Written By Cyrus Langhorne

Kanye West
1.5k Views 2 Comments

Apple Music winning? New reports claim the streaming giant’s rival TIDAL lost close to $30 million in 2015.

According to reports, the growing entertainment platform caught a few tough breaks last year but still managed to make money.

Aspiro AB, the Swedish holding company that Jay Z and a group of other musicians bought in early 2015, recorded a net loss of 239 million Swedish kronor ($28 million) last year, according to a legal filing. That compared with a net loss of 88.9 million Swedish kronor in 2014. Over the same period, revenue rose 30% to 402 million Swedish kronor from 309 million kronor. (Wall Street Journal)

Additional reports claim companies associated with TIDAL have outstanding bills.

Also today, the Norwegian newspaper Dagens Næringsliv reported that the three companies that make up Tidal have 107 outstanding bills. As Business Insider notes, more than 100 of those unpaid bills have been incurred since Jay-Z bought the service. These bills are for everything from rent to music festivals to taxi companies and hotels. Not paying your bills just looks bad, especially when Tidal’s entire MO is that artists deserve to get paid. Taxi companies deserve to get paid too, Tidal. (Gizmodo)

Back in July, TIDAL owner Kanye West went on a mini-Twitter tirade and suggested Apple Music should work with Jay Z.

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In June, reports developed about Apple possibly looking into buying Jay’s TIDAL service.

Apple is exploring the idea of bringing on Tidal to bolster its Apple Music service because of Tidal’s strong ties to popular artists such as Kanye West and Madonna. The talks are ongoing and may not result in a deal, these people said. Terms of the potential deal aren’t known. (Wall Street Journal)

2 Comments

Written by Cyrus Langhorne

SOHH.com Writer. You're likely to find me covering hip-hop news and music releases. Netflix is still my go-to before Disney Plus.

2 Comments

  1. Why would Apple buy Tidal now lol.  They gonna wait until it sinks and buy it for peanuts lol. Kanye begging Apple to buy it now well it’s still worth something lol sounding real desperate lol

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