{"id":98154,"date":"2021-01-18T16:33:56","date_gmt":"2021-01-18T16:33:56","guid":{"rendered":"https:\/\/www.musicbusinessworldwide.com\/?post_type=companies&p=98154"},"modified":"2021-01-18T16:33:56","modified_gmt":"2021-01-18T16:33:56","slug":"tidal","status":"publish","type":"companies","link":"https:\/\/www.musicbusinessworldwide.com\/companies\/tidal\/","title":{"rendered":"TIDAL"},"content":{"rendered":"

TIDAL is a New York-based music streaming service.<\/p>\n

Available in 56 countries, TIDAL has more than 70 million songs and 250,000 high quality videos in its catalog, along with original video series, podcasts and thousands of playlists.<\/p>\n

TIDAL<\/span> is available in premium and HiFi tiers, recording formats include Master Quality Authenticated (MQA), Sony\u2019s 360 Reality Audio recordings, and Dolby Atmos Music.<\/p>\n

The platform is led by CEO Richard Sanders,<\/a> while Lior Tibon acts as the company’s Chief Operating Officer.<\/p>\n

The newest incarnation of TIDAL launched in 2015 after JayZ-led Project Panther Bidco acquired the platform from Aspiro for $50 million.<\/p>\n

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Acquisition by Project Panther Bidco<\/h6>\n

TIDAL was launched in 2010 across Scandinavia under its original name of WimP,\u00a0 offering both a standard and hi-def audio package.<\/p>\n

The platform’s former parent company Aspiro changed WimP’s name<\/a> to TIDAL in March 2015 ahead of is acquisition by Project Panther Bidco, led by Jay Z.<\/p>\n

In addition to Jay Z, the company announced that its owners included 16 of the biggest artists<\/a> in the world, introduced at a press conference in New York at the end of March 2015.<\/p>\n

Reports at the time suggested that Tidal’s artist owners were each given 3% equity in the company.<\/p>\n

As of today according to the streaming platform’s website, Tidal’s artist owners include<\/a> Alicia Keys, Arcade Fire’s Win Butler and Regine Chassagne, Beyonc\u00e9, Calvin Harris, Coldplay’s Chris Martin, Daft Punk, Damian Marley, deadmau5, Indochine, J. Cole, Jack White, Jason Aldean, Shawn “JAY-Z” Carter, Kanye West, Lil Wayne, Madonna, Nicki Minaj, Rihanna, T.I. and Usher.<\/p>\n

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Financial results<\/h6>\n

TIDAL’s revenues grew 13.1% in 2019<\/a>, according to a financial document filed by parent company Project Panther Bidco in the UK.<\/p>\n

The company’s total revenue in 2019 was $166.9m, but represented a slowing on the 26.4% rise the service saw in 2018<\/a>.<\/p>\n

TIDAL posted an annual operating loss in 2019 of $55.3m (see below), which represented an increase in operating loss of 50.6% from the $36.7m figure posted by the company in 2018.<\/p>\n

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<\/a><\/figure>\n
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Controversy<\/h6>\n

In 2018, a report by Norwegian financial newspaper Dagens N\u00e6ringsliv <\/a>suggested that the accounts of TIDAL subscribers were manipulated in 2016<\/a>\u00a0to falsely bulk up streaming numbers allocated to Kanye West\u2019s The Life Of Pablo<\/em> and Beyonc\u00e9\u2019s Lemonade.<\/em><\/p>\n

The company strongly denied the claims and enlisted<\/a> an \u201cindependent, third party cyber-security firm\u201d to investigate a potential data breach at the company.<\/p>\n

In January 201,9 Dagens N\u00e6ringsliv<\/em> revealed<\/a> that Norway\u2019s National Authority for Investigation and Prosecution of Economic and Environmental Crime (\u00d8kokrim) had begun an investigation into potential \u2018fake streams\u2019 at TIDAL.<\/p>\n","protected":false},"excerpt":{"rendered":"

TIDAL is a New York-based music streaming service owned by Jay-Z<\/p>\n","protected":false},"featured_media":55691,"parent":0,"menu_order":0,"template":"","class_list":["post-98154","companies","type-companies","status-publish","has-post-thumbnail","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/companies\/98154","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/companies"}],"about":[{"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/types\/companies"}],"version-history":[{"count":0,"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/companies\/98154\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/media\/55691"}],"wp:attachment":[{"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/media?parent=98154"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}