#Roommates, things don’t look to be running smoothly over at #Tidal! These days mogul #JayZ has a lot on his plate. With the birth of his twins on the way and his continued involvement with community issues, his multi-million dollar streaming platform #Tidal has suffered yet another set back with the departure of it’s third CEO Jeff Toig in just two short years.
In a statement to Billboard, #Tidal announces, “As part of Tidal’s continued expansion this year we’ll be announcing a new CEO in the coming weeks.” Making the position available for the fourth time in just 2 years. Though the reason for Toig’s departure is unclear, sources say Jeff stepped down from his position in March of this year after serving 18 months as CEO.
If you remember Jay Z bought the streaming service back in 2015 for $56 million and has since made it a $200 million dollar company with the help of exclusive releases, streaming incentives and live events.
Though Tidal has proven to be a lucrative business endeavor for #Hov, both subscription retention and high level Executive changes has plagued the company since 2015.
Clearly something’s going on at Tidal that just isn’t adding up! Hopefully with the announcement of the new CEO Tidal can solidify its position in the streaming world.