You’ve probably heard it a couple of times. Most music execs predicted that Jay-Z led Tidal would be bust in a year. Then enter Kanye West’s latest album The Life of Pablo.
According to TMZ, The Life of Pablo has set a streaming record for Tidal and the Tidal exclusive project. The company has more than doubled its subscribers to a cool 2.5 million users.
Now more than ever, those who predicted Tidal’s downfall are not so sure anymore.
Tidal crossed the one million mark last September. Kanye West, on the other hand, dropped his new album in style just last month when a wooping 20 million viewers tuned in and crashed the servers. So it’s no surprise where the new subscriptions came from.
Other Tidal artist-owners have released exclusive content via the plaform. Rihanna released her latest album Anti on Tidal for free, in January. Anti got 1 million downloads and was streamed over 13 million times in 14 hours. Just last week, T.I. signed on as a Tidal artist-owner.
While the company seems to be attracting new users, Tidal is still far behind its streaming competitors as far as total number of subscribers. Spotify is the industry leader with reportedly close to 25 million paid subscribers. Apple Music is said to have over 10 million paid subscribers in more than 100 countries.
Tidal has also faced significant turnover at the executive level. In December, Jeff Toig was named the company’s third CEO in less than a year. After his hiring, Toig told Billboard, “I spent a lot of time with Jay during the interview process and he’s an incredibly talented and visionary businessman and he is deeply committed to Tidal. This isn’t a short-term play. This is a long-term investment.” Read more…