Oh dear. It seems as though things have been going from bad to worse for Jay Z’s company, Tidal. Maybe charging people $20 for music wasn’t such a good idea after all…
Having already lost their first CEO, Andy Chen, in April, it seems Tidal couldn’t hold onto the next one either as they have announced that interim CEO Peter Tonstad is “no longer with the company”.
When Peter first started, Tidal said he had “a better understanding of the industry and a clear vision for how the company is looking to change the status quo”. Sounds impressive, eh? But it seems they may have misjudged the situation because things haven’t worked out quite as they may have hoped.
A spokeswoman for Tidal said: “We are thankful to Peter for stepping in as interim CEO and wish him the best for the future.
“Tidal will be transitioning to a permanent CEO as part of our strategic plan to create a leading platform, and current executives in New York and Oslo will continue to lead our rapidly developing innovations and content initiatives until our new CEO is in place”.
Right. Would anyone even dare take on this role? It sounds a little (cough) cursed.
Tidal was launched earlier this year with a star-studded celeb bash and with more bells and whistles than Jay and Beyonce’s wedding. But this hype has been quickly demolished as Tidal has been hit with a barrage of criticism over its high prices and hypocritical attitude, with celebs like Lily Allen and Mumford And Sons speaking out against it.
Despite the constant changes at the top, Jay and his A-list singing chums are determined to stay in it for the long haul.
Let’s just hope Peter’s replacement hangs around a little longer…
Words by: Amelia Pike