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Jay Z - On The Run Tour 2014

Source: Larry Busacca/PW / Getty

Via | HotNewHipHop

It’s being reported that the service recorded a net loss of $28 million.

Tidal has stiff competition with Spotify and Apple Music streaming services, and while they’ve been steadily gaining a larger subscriber base, their net loss for 2015 is considerable. The Wall Street Journal reports that Aspiro, the Swedish company that Jay Zand his peers purchased last year, lost 239 million Swedish kronarin in 2015, which works out to about $28 million. This is a much larger loss than the previous year, where the company lost the equivalent of $10 million.

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