It was all good just a week ago...
Remember when TIDAL was going to change the streaming industry forever? Well, as it turns out the company isn't doing too well. Since JAY Z purchased the company in March for $56 million, TIDAL has faced criticism on a number of fronts, and thanks to a recent poll of top music executives by Billboard, it's clear that the powers that be in the music industry don't believe it will last much longer.
The poll collected opinions from over 50 execs, revealing that a staggering 71% of individuals believe TIDAL will fail in "one year or less." Yikes.
The report comes just months after Hov publicly stated that the company was "doing just fine." Earlier this month, Tidal saw two executives exit the company, following the departure of interim CEO Peter Tonstad, who helmed the company for only three months following his predecessor's outing earlier this year. The company's chaotic state of management only worsens its quickly declining public perception, which also counts its star-studded PR disaster of a launch and lack of consumer interest for higher-priced, lossless quality subscriptions among its contributing factors.
If the end is truly near for TIDAL, let me be the first to say it was (not really) a pleasure to know them during the course of my brief, 30-day trial period. You were the new kid in school who showed up and had everyone talking about your expensive clothes and your address book of famous people's phone numbers. Unfortunately, once the novelty wore off everyone realized you were pretty much like everyone else, only much more cocky and self-absorbed. Not a good look.
[By Brendan Varan. He gives Tidal six months. Follow him on Twitter.]