In lieu or all promotional services and it’s stiff competition with Spotify and Apple Music, Tidal took a huge loss in 2015.

Frankie Zing

According to The Wall Street Journal, Aspiro, the Swedish company that Jay-Z and co. purchased last year, lost 239 million Swedish kronarin in 2015, which equals out to about $28 million. That nearly tripled Tidal’s loss from 2014, recording a $10 million loss.

Given that Tidal is fairly new to the streaming industry and Spotify has been ruling it for years now, plus Apple is the biggest company in the world, we’re sure the analytics team at Tidal saw this coming a mile away. Although, Tidal hasn’t earned a profit yet, they did drive revenue up 30%.

Tidal had the biggest exclusives it could this year, like Rihanna, Beyonce, Kanye West, and now Usher all dropping exclusively to Tidal, which should help tremendously. There’s no indication yet of how 2016 will wind up looking for them, but for now they’re still totaling 4.2 million subscribers, to Apple Music’s 17 million and Spotify’s 39 million.