The acquisition of WiMP and Tidal owner Aspiro by a company owned by Jay Z is still going through, but in the meantime we have the company’s latest financial results to chew on. Aspiro said it had 500,000 paying users for its streaming services at the end of 2014, including 35,000 on its hi-res WiMP HiFi and Tidal services, up from 20,000 at the end of September.
Aspiro’s net sales for Q4 were SEK 74.5m (just over $9m) but it posted a net loss of SEK 41.5m ($5m) with its year-end report admitting that “given the current strategic plan and the associated capital needs, the company is not fully funded for the coming twelve months”. Hence its eagerness to accept the $56m acquisition offer from Project Panther, which is owned by Jay Z’s S. Carter Enterprises. In the meantime, Aspiro is pressing ahead with global expansion for Tidal: it will launch in 22 more countries in the first quarter of 2015, mainly in Europe.