FinTech firm Block (formerly Square) is now the parent company of Tidal, and the fact that it is a public company means we get a little insight every quarter into how that music streaming service is doing.
Witness its latest financial results, which revealed $55.7m of ‘corporate and other’ revenues for the final quarter of 2021. This revenue category “was primarily Tidal” according to Block. The company did not provide comparative figures for 2020 (because it didn’t own Tidal then), but we can make a quarter-on-quarter comparison: in Q3 2021, Block’s ‘corporate and other’ revenues were $57.7m, so they declined by 3.5% in Q4.
However, it’s very early days for Block’s ownership of Tidal: it only launched its new free tier and unveiled plans to add direct-to-artist payments in November 2021. So, the ‘corporate and other’ segment of Block’s financials will be useful going forward in 2022, to see how these changes (and related marketing for Tidal) are affecting the business.
Tools: platforms to help you reach new audiences
Tools :: Wyng
Through Music Ally’s internal marketing campaign tracking, we’ve recently discovered an interesting website by the…