Jay Z’s Tidal music service loses its third CEO in two years

“The music-streaming service Tidal is saying goodbye to yet another CEO,” Lynn La reports for CNET.

“Jefffrey Toig, who became CEO in December 2015, is leaving the company,” La reports. “This would make him the third CEO to leave Tidal in two years, following the departure of Andy Chen and Peter Tonstad, according to Billboard.”

“In a statement to CNET, Tidal said that it will announce a new CEO in the coming weeks,” La reports. “‘We wish former CEO, Jeffrey Toig, all the best in his future endeavors.'”

Read more in the full article here.

“The nature of Toig’s departure remains unclear, but a source with knowledge of the situation indicated that he actually exited in March,” Marc Schneider reports for Billboard.

“Jay Z bought the Swedish ­technology company Aspiro and its WiMP ­streaming service, renamed Tidal, in early 2015 for $56 ­million,” Schneider reports. “Since then, the company has struggled to attract-and-retain paid subscribers during a period in which streaming now accounts for more than half of music industry revenues. At last unofficial count, the service had an estimated one million paid users.”

Read more in the full article here.

MacDailyNews Take: Jay Z’s drowning Tidal music service.

Apple Music surpasses 20 million paid members 17 months after launch – December 6, 2016


  1. They really should let me try.

    The sad part is comparatively speaking, TIDAL is a whole lot easier to use than iTunes. Easier to find music. Higher quality music. Not as much music, but its a good service.

    Though iTunes is getting better in fits and spurts.

  2. Rental is now over half of the music industry’s income.

    Has anyone considered that is because they hype shit like Katy Perry, Taylor Swift, The Weeknd and the lard ass chick with the Blonde Wig? Or one of any number of Nashville “Hats” that are poseurs trying to re-skin The Eagles without looking too obvious?

    There are plenty of great musicians who cannot get the time of day from the so-called tastemakers and self-styled music experts- most of whom cannot play any instrument.

    Those who would hype Apple Music should look at the paltry conversion rate of almost a Billion iTunes accounts to the rental service. I have no intention of renting music but have an open wallet to buy great music whenever it comes out.

    As to Jay-Z, I hope he goes as broke as MC Hammer.

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