Tidal Is Firing Its Staff and Replacing Their CEO
Tidal, the new Jay Z endorsed music streaming service, is undergoing some major moves in personnel. A number of employees have been let go as well as change coming at the top with a new CEO being brought in. In a recent statement posted on Business Insider, Tidal announced the latest internal changes. "We’ve eliminated a handful of positions and refocused our company-wide talent to address departments that need support and cut redundancies. TIDAL’s offices globally will remain and grow: we are already hiring for several new positions now. We’re excited about our future and what’s in store for fans who want the best listening experience." The company will also be replacing CEO Andy Chen with the former CEO from Tidal’s parent company Aspiro, Peter Tonstad.
Tonstad recently released a personal statement on the move. “I believe in TIDAL and what the team is doing to affect the change the music industry needs. We’re streamlining the company and refocusing our resources to ensure the platform continues to grow, and listeners can make a connection to their favorite artists. No one else is doing this.”
As previously reported, Hov relaunched the music streaming service in late March with the help of industry heavyweights like Beyoncé, Madonna, Kanye West, Alicia Keys and others. Dubbed the "first-ever artist-owned global music and entertainment platform,” Jigga claims the service will pay out the highest royalty percentage to artists. The service cost subscribers $19.99 per month for high fidelity service, or $9.99 for standard and will feature exclusive content. You might even get a phone call from Jay for signing up.