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Could Jay-Z’s streaming service be in trouble?
TIDAL has been trying to compete with monsters such as Apple Music and Spotify in the streaming wars. Now it is being reported that the company may be losing money. According to Norwegian publication Dagens Næringsliv, the company lost $44 million last year, and can only last another six months.
A spokesman sent a message to Engadget:
“We have experienced negative stories about TIDAL since its inception,” he said. “We have done nothing but grow the business each year.”
There have been no words from Jay-Z himself on the claims.
The rapper help launch a star-studded event in 2015 showcasing his vision for the company. Since then it has hit several up-and-downs.