Despite JAY-Z being one of the world’s highest-paid musicians, his TIDAL music streaming surface is reportedly not doing so well. According to reports by Norweigian newspaper Dagens Næringsli, TIDAL is facing both financial difficulties and user growth issues. As a result, the service allegedly only has enough funds to last six months.
The latest news surfaces less than a year since TIDAL received a hefty investment from Sprint, with the mobile company taking a 33 percent stake. This certainly isn’t the first time the streaming service has been in poor financial health, with big losses reported in 2015, repeated disputes about the actual number of subscribers, and the company losing three CEOs in a mere two years.
In a statement to Engadget, a TIDAL spokesperson said, “We have experienced negative stories about TIDAL since its inception and we have done nothing but grow the business each year.” The company reportedly claims it will break even soon, before achieving profitability in mid-2018.
In other music mogul news, Diddy goes curling in a hilarious Ciroc commercial. Watch it right here.
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