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Why Streaming Struggles
JimH:
Spotify has lost about half a billion dollars in the three quarters since it went public. Symbol is SPOT
JimH:
Pandora has lost $285 million in the last three quarters. Symbol: P
JimH:
Tidal hasn't released any information. They were expected to run out of cash in 2018.
Hilton:
They havent run out of cash yet because Sprint just bought 33% share.
https://www.techspot.com/news/67883-sprint-acquires-33-tidal-offer-exclusive-music-content.html
JimH:
--- Quote from: Hilton on January 29, 2019, 07:55:59 am ---They havent run out of cash yet because Sprint just bought 33% share.
https://www.techspot.com/news/67883-sprint-acquires-33-tidal-offer-exclusive-music-content.html
--- End quote ---
That was two years ago now, and the word "cash" doesn't appear in the article. I think the financing was "creative" to make something of a splash.
Here's a more recent article:
https://www.engadget.com/2017/12/13/tidal-jay-z-financial-trouble/
They can delay a collapse by not paying record labels, but they can't get around the fact that they don't earn a profit. Not even close. Their only hope is that someone will buy them, and I don't think it's likely or it would have happened by now.
When Jay-Z bought Tidal, it looked like he thought he could flip it, like Dr Dre did with Beats when he sold it to Apple.
https://en.wikipedia.org/wiki/Beats_Electronics
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