Tidal doubles losses, could be sold?

[Reputation 2,391]

 

Is cash-strapped Tidal about to be sold? The latest rumor has it that a sale to one of the big tech entities is a done deal in handshake form. This sexy speculation occurs at a particularly ugly moment for the company.

 

In the year rap mogul Jay Z took control of Tidal, the music-streaming service more than doubled its net loss, burning cash at a rapid rate and testing the depth of its owner’s pocket.

According to a legal filing sourced by The Wall Street Journal, Aspiro AB, Tidal’s holding company, recorded a net loss of 239 million Swedish kronor ($28 million) last year, compared with a net loss of 88.9 million kronor ($10 million) in 2014.

Aspiro had net cash of 35.4 million Swedish kronor ($4 million) at the end of 2015, down from 63.5 million kronor ($7 million) a year earlier. That was despite receiving a cash injection of 93.6 million kronor ($11 million) through a rights issue.

It’s symptomatic of the company’s degree of desperation that Kanye West’s first week or two of streams were not reported, and Tidal claimed the number was 250 million—a monumental exaggeration.

Not only is Tidal bleeding money, but the loss of exclusives to attract new subscribers, exacerbated by its own artist owners bailing (e.g., Jason Aldean bypassing the service, Kanye’s album with Drake going to Apple Music) is rendering the prospectus even more dire.

 

Source

[G like MC 18,443]

Tidal is a dead pony on wheels

[Nick 374]

The only Tidal exclusive I cared about was Lemonade, which doesn't matter since I have it on Apple Music  it's a Spotify ripoff with a few exclusives. 

[Andrew 1,128]

Good  let that shit die  

[Chris 59,315]

oop. poor TIDAL

[Jony 14,504]

It's gonna be a win for whoever buys it (probably Apple). Many exclusives and lossless are tempting. You also forgot to include the most important part of the article "Nonetheless, the bones of the service are believed to be superior to Apple Music and Spotify, and the service’s reported 4.2m subs have value—making the above rumor seem plausible."

 

[Sine 22,006]

I've never really seen the difference from its competitors aside from lossless playback; it's great but it can feed a lot of data.