It’s no secret that Jay Z’s Tidal streaming service has gotten off to a rocky start.
After losing CEO Andy Chen in April and ushering in Peter Tonstad as his interim replacement, as of this morning Peter Tonstad is already out the door.
Reasons for his departure were not discolsed.
“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 innovation and content initiatives until our new CEO is in place,” Jana Fleischman, head of communications at Tidal, said in an email to Forbes.
Tidal is up against tough competition in the music streaming market. They’ve most recently reported 770,000 paid subscribers, compared to Spotify’s 20 million subscribers. With Apple Music’s launch next week offering individual plans at $9.99 per month and family plans at $14.99 per month it’s going to be an all-out streaming war — especially considering Apple sold its 1 billionth iOS device as of last November.
Maybe Jay can put in a call to Taylor Swift and see if she can help fix some things…
