Tidal May Be Out Of Cash Within Six Months

Does Tidal have only six months to live

Tidal May Be Out Of Cash Within Six Months

A report from Norwegian publication Dagens Naeringsliv, claims that Tidal would have been better off with the same poor quality MP3s that other music streaming sites offer, because it is running out of cash. After an early 2017 $200 million deal with Sprint, the streamer was said to have "sufficient working capital for the next 12-18 months", according to Jay Zs business partner and Roc Nation Sports president Juan Perez. Tidal has reportedly list NOK$368 million (about $44 million) previous year (before taxes).

Dagens Næringsliv's report goes on to dispute Tidal's subscriber numbers, which based on internal reports found by DN stands at 1.2 million users, far fewer than the 3 million user figure claimed by the company in January. The company reportedly states it will break even soon, before becoming profitable in mid-2018. DN also cites numbers from Midia Research which claims that Tidal is responsible for less than one percent of the 100 million worldwide streaming subscribers.

Even judging it by its own accounts, it's still still trailing rivals Spotify (which announced more than 60 million subscribers as of July) and Apple Music (30 million as of September).

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