Tidal taps ex-SoundCloud chief business officer, Jeff Toig, as new CEO
It was last June when news broke that Tidal lost its second CEO in a matter of months. Peter Tonstad’s departure signaled to many that Jay-Z’s streaming service would be headed towards its grave just months after launching; however, the company continues to be optimistic about Tidal’s future. The streaming service has recently tapped Jeff Toig, ex-chief business officer of SoundCloud, to step in as Tidal’s permanent CEO.
Although the company has seen a few bright moments recently including their sponsorship deal with Barclays Center and their expansion into streaming original TV content, Toig still has a very steep road ahead of him. The ex-Soundcloud exec’s largest task will be to set Tidal apart from competitors Apple Music and Spotify, both of which have a serious head start with their user bases and content libraries.
Only time will tell if Tidal’s latest restructuring will be enough to keep Jay-Z’s streaming venture afloat.
H/T: The Verge