In the year rap mogul Jay Z took control of Tidal, the music-streaming service more than doubled its losses, burning cash at a rapid rate and testing the depth of its owner’s pockets.
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.
I don’t think that’s good.