BH Buzz: Tidal Doubles Its Net Loss In One Year

tidal-buzz

The BH Buzz is a round-up of stories we wanted to get to today, but… didn’t.

■ According to new reports, Jay Z is very seriously considering selling Tidal. Hits Daily Double is speculating "that a sale to one of the big tech entities is a done deal in handshake form."

That "big tech" entity could be Apple Music. Sources familiar with the situation told The Wall Street Journal in June that talks are "ongoing," adding "Apple is exploring the idea of bringing on Tidal to bolster its Apple Music service because of Tidal’s strong ties to popular artists such as Kanye West and Madonna."

The Wallstreet Journal wrote a new story since with alarming numbers. They claim since Jay Z took over, the music streaming service "more than doubled its net loss."

From the WSJ:

Aspiro AB, the Swedish holding company that Jay Z and a group of other musicians bought in early 2015, recorded a net loss of 239 million Swedish kronor ($28 million) last year, according to a legal filing. That compared with a net loss of 88.9 million Swedish kronor in 2014.

Over the same period, revenue rose 30% to 402 million Swedish kronor from 309 million kronor.

The spill of red ink at Tidal parent Aspiro illustrates the challenge the music-streaming service faces in competing with much-larger rivals such as Spotify AB and Apple Inc.’s Apple Music.

Right now, Tidal lacks funding for 2016, but are confident they'll secure new financing.

To put things into perspective, Drake's total streams on all services surpass Tidal's total streams of the top 1,000 songs by half a billion (via HDD).

Time to fold.


jayjay-z-oh-fuck



■ Beck - "Wow" music video:





■ Watch a trailer for Gwen Stefani's animated series "Harajuku Girls":





■ Green Day - "Bang Bang" music video:





■ Meg Ryan and Adam Scott star In James Corden’s Beyoncé Soap Opera:





■ John Legend & Stevie Wonder recreate OutKast’s “Hey Ya!” video on Lip Sync Battle:





■ Watch the trailer for Tupac's biopic (on the twentieth anniversary of his untimely death), (and 22 years since Notorious B.I.G.'s Ready to Die album debuted):





■ DNCE tease a bit of new music from their forthcoming album:


Did we leave anything out?