Tidal loses another CEO and continues to fall behind in the streaming race
With Apple Music on a Taylor Swift-induced rise and Spotify sitting with a lofty 75 million users, Tidal’s future in the streaming world is bleak to say the least. What many are already speculating could be one of the final nails in the coffin for the Jay-Z project is recent news of Peter Tonstad’s departure from his role as interim CEO for the company.
Though Tidal has already confidently confirmed its plans to transition in a permanent CEO while relying on executives in New York and Oslo for the time being, the news comes as another major red flag for the company.
Tonstad was appointed interim CEO in April following a quick two-week turnaround for former CEO Andy Chen; he was never meant to fulfill the role for a long term period, but still opted out less than three months into the position — even before the company was able to find a permanent replacement.
Tonstad left with only a few parting words. “The only thing I can confirm is that I have resigned.”