Tidal lost $28 million last year. Ouch.

Looks like Tidal might be in a bit of hot water - in a new legal filing, it’s been revealed that they made a net loss of $28 million last year.

That’s double the losses of the previous year, whilst making only a 30% increase in overall revenue. Which isn’t ideal, really. As the Wall Street Journal reports, Jay Z’s streaming service recorded a net loss of 239 million Swedish kronor ($28 million) last year - in 2014, that figure was just 88.9 million Swedish kronor ($10.4 million). As for revenue, that rose to just 402 million Swedish kronor ($47 million) from 2014’s 309 million kronor ($36.2 million) figure.

If that’s all just far too many numbers for you, all you need to know is that is ‘a bit of a shocker’, particularly given the exclusives Tidal has garnered from Kanye West, Beyoncé and Rihanna in the last nine months. Stormy seas ahead.