Rebecca Richards | BLEU

Jay-Z’s Tidal Faces Financial Complications

Although artist Jay-Z has been named one of the world’s highest paid musicians, his Tidal streaming service has reportedly been suffering from financial difficulties. According to Norwegian business paper, Tidal is facing both cash flow and user growth issues leading to the service having enough funds for the last six months. The company lost $44 million before taxes in 2016, severely draining their funds that there’s now anxiety that Tidal might not make it out of 2018. This is also coming after Sprint bought a 33 percent stake earlier this year for a reportedly $200 million. A Spokesperson for Tidal told Engadget that the business has been growing and the company will even become profitable next year. If Tidal does shut down, it might leave millions of subscribers out in the cold and the options of lossless audio might be limited.