TIDAL Reports Huge Loss in 2015
This is bad, real MJ bad! A legal filing via The Wall Street Journal paints a rather dire (albeit incomplete) picture of TIDAL’s current outlook. Faced with heavyweight competitors Apple and Spotify, the artist-owned coalition has struggled to capitalize on its exclusive releases. TIDAL’s parent company, Aspiro, has reported a $28 million USD loss for 2015, the very year JAY Z acquired it. This totals to nearly double the $10.4 million loss it chalked up in 2014. TIDAL’s spending went mostly towards record label royalty fees and its 86-person workforce, accounting fo