TIDAL owner Aspiro AB recently filed a number of financial statements with Swedish authorities, and the contents of those statements don’t look so great. Aspiro AB, the TIDAL parent acquired by Jay Z last year, posted a net loss of 239 million Swedish kronor, according to the document, or roughly 28 million in US dollars.
A second document, specifically for ‘Tidal US,’ reported net losses of 130 million Swedish kronor, or $15.2 million. This suggests that a great deal of losses are coming from the US market where competition against streaming giants like Spotify and Apple Music is especially fierce.
Despite exclusive deals with elite artists in the music industry it appears that Tidal is far from the leader of the pack. How much longer will Tidal be for all, or anyone for that matter?