There are plenty of music streaming services out there to choose from, and Tidal is one of them, with the focus being on audio quality.
According to a report from Dagens Næringsliv (by way of Engadget), Tidal is facing a current run-off of not only money, but also users. The company reportedly lost NOK$368 million (~$44 million) before taxes in 2016, and, as a result, apparently only has enough cash to keep the lights on for another six months. Earlier this year, Tidal made the news cycle with a report that said the company was inflating its subscribers number, and when Sprint bought a 33% stake of the streaming music platform.
“We have experienced negative stories about Tidal since its inception and we have done nothing but grow the business each year,” a spokesperson for Tidal told Engadget.”
According to Engadget, Tidal is still planning on breaking even soon, and still aiming to reach profitability sometime by mid-2018.
As it stands right now, following the subscriber numbers fiasco earlier this year, Tidal has not revealed its subscribers numbers, so it is certainly possible that the company has been losing customers throughout the year. This latest report indicates that Tidal may not be around for much longer.
Are you a Tidal subscriber?