TIDAL, the high-definition music streaming platform, just isn’t having the very best of occasions. The corporate has already made layoffs, and its administration has been mulling a possible restructuring to get again on monitor to profitability. Now, a report claims that an upcoming spherical of layoffs will have an effect on round 1 / 4 of the present TIDAL employees.
Competitors within the music streaming service section has change into fairly fierce. Different platforms have been getting an increasing number of options and a rising catalog of songs. TIDAL’s primary promoting level over the others has at all times been Hello-Fi audio. Whereas rival providers have been betting on codecs with high quality compression, TIDAL provided premium plans with lossless music.
TIDAL might eliminate 1 / 4 of its employees in new spherical of layoffs
Nevertheless, the arrival of high-quality audio plans at rival providers most likely led a share of TIDAL customers to contemplate switching. Whereas the latter’s Hello-Fi high quality sometimes presents the next bit fee than its rivals, solely a particular area of interest of customers really worth this characteristic. It even requires utilizing earbuds or headphones of a sure vary to get pleasure from it.
In December 2023, the corporate shed round 10% of its workforce. Now, in line with Fortune, an upcoming spherical of layoffs will affect round 1 / 4 of TIDAL’s workforce. The supply says they gained entry to a memo from Jack Dorsey, the CEO of Block Block Head (Tidal’s guardian firm). “We’re lowering the scale of our design workforce and foundational roles supporting TIDAL, and we are going to think about lowering engineering over the following few weeks as we have now extra readability round management going ahead,” the memo mentioned, in line with Fortune.
On this spherical of layoffs, round 100 workers might depart the corporate. In July of this yr, Dorsey was reportedly contemplating restructuring TIDAL. The employees discount might align with this plan. TIDAL just isn’t the one tech firm to have made large layoffs just lately. Others, like DropBox and even Meta, have needed to do the identical.
Latest strikes to make TIDAL extra engaging
Earlier this yr, in a transfer to change into extra aggressive available in the market, TIDAL bundled its Hello-Fi plans. Priced at $10.99, the brand new premium subscription undercuts the earlier, dearer one. The corporate has additionally made strikes to solidify its place as a streaming service targeted on Hello-Fi audio. The record consists of setting FLAC because the default format and including Dolby Atmos help.
