Does Tidal have only six months to live

Kelvin Reese
December 15, 2017

Although other reports say that the streaming service reckons it'll be profitable by the middle of next year.

Tidal has denied claims that it only has enough money to stay afloat for another six months.

Tidal is burning through its final rounds of cash, according to reports. Comparing this to Spotify, the had $581 million in losses but had around $3 billion in revenue.

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In a statement to The Jolt Journal, Tidal spokesperson said that "We have experienced negative stories about Tidal since its inception and we have done nothing but grow the business each year".

"This investment, along with other sources of funding, gives the group sufficient working capital for the next 12-18 months", the company wrote in a report signed Juan Perez, according to Dagens Naeringsliv. The company reportedly claims it will break even soon, before achieving profitability sometime next year. This comes after Sprint bought a 33 percent stake in the company for a reported $200 million. Stakeholders have lost about $500 million since Carter purchased TIDAL from its Norwegian owners for about $58 million in 2015. Following the claim, Dagens Næringsliv stated the number was closer to 350,000.

JAY-Z's Tidal may be on the verge of sinking. The company burned through about $44 million before taxes past year, according to the report. Sprint was trying to better compete by offering streaming music to its subscribers, complete with exclusive content.

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