Tidal Has Plummeted on the U.S. iPhone Apps Chart
Just yesterday (April 20), we reported figures that show the first months of the year have proven profitable for Spotify, which saw a 53 percent increase in revenue since the first quarter of last year. It appears Spotify’s artist-owned competitor Tidal, on the other hand, is having a rough go of things.
According to BGR, when Jay Z and company officially launched the streaming platform last month, it broke iPhone’s Top 20 app downloads in the U.S. It has since plummeted below the 700 marker on the charts. Meanwhile, Spotify and Pandora have taken ahold of the No. 3 and 4 positions, respectively. Beats Music also recently broke iPhone’s Top 20 chart.
The rankings certainly don't bode well for Tidal, which also saw the recent departure of CEO Andy Chen last week, along with 25 layoffs at parent company Aspiro’s offices in Sweden. Former CEO Peter Tonstad has returned to his role in the meantime as the company searches for a replacement.
Tidal has received its fair share of criticism since the announcement of its celebrity-lined ownership. The platform has responded to critics who claimed the service was overlooking indie artists in its launch by unveiling its Tidal Rising feature, which is geared toward promoting emerging artists. What’s more, Tidal owners Jay Z and Jack White have even reportedly called subscribers to express thanks for using their latest venture.