Tidal Losses Double To $28M, May Be Running Out Of Cash

Tidal losses doubled year over year to $28 million, according to new filings. The losses say a lot about about Jay Z's model which emphasizes exclusives from top artists, as well as, the viability of the streaming business model even for a service with no free tier.

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Tidal losses more than doubled to $28 million last year, compared to $10.4 million in 2014, according to the Wall Street Journal. Revenues rose from $36.2 million to just $47 million.

Norwegian business newspaper Dagens Naeringsliv analysed the filings by Tidal parent Aspiro AB and concluded that the streaming firm has $438,000 in unpaid bills and overdue payments to more than a hundred creditors.