Tidal Net Worth

March 13, 2023
1 min read

Tidal is one of two music-streaming services created by Aspiro, a Norwegian technology company, which in its ownership also holds WiMP.

Starting in 2014, it reached a value of $600 million, and is held by a number of famed musicians, including Rihanna and Jay-Z, but it is also in ownership of the brand Sprint, which bought 33% of the service for $200 million.

Tidal Net Worth $600 Million

What WiMP was for Norway, Sweden, Germany, and Poland, Tidal was for Canada, USA and the UK, but made available four years after the launch of WiMP. Gradually the number of its users increased, and Tidal was made available also for Ireland, the Netherlands, Finland, Luxembourg and Belgium as well, slowly expanding across Europe. According to their reports, Tidal can now be used in 52 countries worldwide.

The service has more than 48.5 million tracks and 175,000 music videos on its server, but apparently because of the high subscription fees, the service has only three million users, half of another music service, Deezer. However, the higher fees have enabled its creators to offer higher payment on royalties for musicians, but also offer high fidelity, lossless audio quality.

Back in January 2015, Jay-Z bought Aspiro for $56.2 million, and a year and a half later Aspiro closed its offices in Stockholm and terminated all contracts, including with CEO Andy Chen.

However, now the new owner of Aspiro, Jay-Z has appointed Peter Tonstad as the new Aspiro CEO, and in September the same year, his Tindal service started selling CDs and digital downloads.

Just several months later, Jeff Toig became the new CEO of Tidal, but left the company in March 2017. However, Jay-Z, now wanting to increase the popularity of his own music service, started a mass-campaign and held a press conference, during which he presented a number of famed musicians as co-owners of the streaming service. The list included Coldplay, Arcade Fire, Kanye West, Daft Punk, Jack White, Alicia Keys and others, while over the last couple of years, several more have joined, including rapper T.I., then Lil Wayne and others, while Kanye West was dismissed from Tidal, following his disagreement over finances with the board of directors.

In order to increase the quality of the music Tidal offers to its customers, Jay-Z as the owner of the firm has managed a deal with the UK company Master Quality Authenticated, after which Tidal now offers 96 kHz/24 bit quality audio, and is the only streaming service to offer such high quality.

Thanks to its increasing popularity, numerous musicians have released their material on Tidal, and the royalties they receive are three times worth those they get through Spotify. Also, in January 2017, Sprint, the US mobile carrier bought 33% of the stakes for $200 million.

Tom Ford

As a Senior Writer at Net Worth Post, I spearhead an exceptional team dedicated to uncovering and sharing the stories of pioneering individuals. My passion for unearthing untold narratives drives me to delve deep into the essence of each subject, bringing forth a unique blend of factual accuracy and narrative allure. In orchestrating the editorial workflow, I am deeply involved in every step—from initial research to the final touches of publishing, ensuring each biography not only informs but also engages and inspires our readership.

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