news Tidal lays off over 10% of the workforce before the holidays

[Wolf Alice]

Off the heels of Spotify laying off 17% of its employees just before the holiday season, Tidal also lays off over 10% of theirs. Is this a sign of the music streaming-only services being unable to keep up with the increasing royalty payments due to increasing streaming consumption and legislative changes demanding that these services pay more to the creators? Or is it just corporate greed in an attempt to increase stock value and increase shareholder dividends? 

https://variety.com/2023/digital/news/tidal-layoffs-10-percent-employees-1235825119/

[Apolonio ₃₄]

Tidal is still a thing?

[DeadInside]

Aren't Beyonce and Jay-Z billionaires?  greedy 

[period sis]

4 minutes ago, DeadInside said:

Aren't Beyonce and Jay-Z billionaires?  greedy 

It's not owned by Jay anymore, and Bey never did.....

[Devin]

hate to see layoffs during holiday season smh.

[Devin]

1 minute ago, period sis said:

It's not owned by Jay anymore, and Bey never did.....

that user still reaching & finding ways to drag Bey is comical atp. 

[Wolf Alice]

18 minutes ago, period sis said:

It's not owned by Jay anymore, and Bey never did.....

Jay sold off his stake but Bey, Madge, and Riri retained their  ownership becoming the second largest shareholders after Jack's Square (who owns 80%). It's rumoured that Jack is planning more layoffs before the holidays in his other companies too

 

https://www.theguardian.com/business/2021/mar/04/jay-z-sells-majority-stake-in-tidal-music-streaming-service-to-jack-dorseys-square

Edited December 7, 2023 by Wolf Alice

[Poxy]

How many people regularly use Tidal?

[45seconds]

13 minutes ago, Wolf Alice said:

Jay sold off his stake but Bey, Madge, and Riri retained their  ownership becoming the second largest shareholders after Jack's Square (who owns 80%). It's rumoured that Jack is planning more layoffs before the holidays in his other companies too

 

https://www.theguardian.com/business/2021/mar/04/jay-z-sells-majority-stake-in-tidal-music-streaming-service-to-jack-dorseys-square

What point are you trying to make? 

[Wolf Alice]

2 minutes ago, 45seconds said:

What point are you trying to make? 

I'm just correcting their statement but also providing context that this is Jack's decision.

Edited December 7, 2023 by Wolf Alice

[Kasix]

10% of total employees might just be 10 people 

Spoiler

Spoiler

Edited December 7, 2023 by Kasix

[Big Bad Wolf]

Flop bomb company. Beyonce better divorce that failed entrepreneur 

[needs]

Laying people off before the holidays is so ****** up.

[glitch]

I'm shocked they even have employees to fire

[May]

2 hours ago, Poxy said:

How many people regularly use Tidal?

I do and i prefer it to spotify

 

the algorithm is better for me

[dumbsparce]

Why doesn't this have just as many pages as the Spotify thread?

 

[RideOrDie]

a lot of companies are doing layoffs, including big banks etc. it's not exclusive to streaming services only 

[Lyrica]

This was obviously gonna happen sooner or later. Why are people here shocked. I am not defending the company it's just that it was obvious from the start that once they reach certain size there is just so much they can do in terms of growing revenue. 10% even seems low. Your app is built. You don't need marketing bc everyone who uses streaming services knows about you. You don't create original content. Customer service is outsourced to India. What are so many people even doing day to day? 

[Exzime.]

There's no one I know IRL that uses TIDAL. So, I'm surprised that it still exists.

 

[DamianSolo]

I hope they, at least, got severance pay to get them through the holidays.

[BrokenMachine]

16 hours ago, Wolf Alice said:

Or is it just corporate greed in an attempt to increase stock value and increase shareholder dividends

Of course this one