Tidal is reportedly having money problems

Rodiano Bonacci
Dicembre 13, 2017

According to a new report from Norway's Dagens Næringsliv states that Tidal is running into financial problems. The reportsuggests that Tidal may only have around six months of working capital left. Tidal has reportedly list NOK$368 million (about $44 million) a year ago (before taxes). Since then, the company has kept quiet about user numbers.

"We have experienced negative stories about Tidal since its inception and we have done nothing but grow the business each year", a spokesperson for Tidal told Engadget. Spotify hit the 60 million user mark in 2016, while Tidal had just 1 million as of the end of 2015 (and even that number is disputed).

It's worth mentioning that Sprint made a 33 percent stake in Tidal at the beginning of this year. The company reportedly claims it will break even soon, before achieving profitability in mid-2018.

Engadget notes that Tidal is facing these financial difficulties despite a massive injection of funds from U.S. telco Sprint buying one third of the business in January 2016.

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