Tidal has reportedly list NOK$368 million (about $44 million) previous year (before taxes). According to a report in the Norwegian outlet Dagens Næringsliv, Tidal only has six months worth of money to, uh, tide it over.
Speaking to The Verge, a Tidal spokesperson, however, expressed confidence in the company's growth.
Jay-Z and other owners are said to have lost more than half a billion dollars since they bought Tidal. Prior to this year's Sprint deal announcement, Tidal claimed to have surpassed 3 million paid subscribers.
Apart from the cash position, there has also been suspense about Tidal's subscriber base as in recent months, the company has not given any updates on the subscriber numbers.
"We have experienced negative stories about us since we started", a spokesperson said in a statement to United States media, "and we have done nothing but grow the company year after year".
During negotiations, Schibsted claimed it had around 540,000 users, though the actual number appeared to be much lower.
Comparing Tidal's success to its competitors, Spotify has seen more than 60 million subscribers while Apple Music has seen more than 30 million.
For those who came in late, one of the few reasons for opting for Tidal was that it offered audiophile grade music which costs an arm and a leg.
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