Tidal’s unleashing has been a bumpy road to say the least and even Jay Z forgot he owned the music streaming service a few months ago. Hopefully one of his largest business ventures will catch a better break, though. In that spirit, the company named a new CEO in aims of starting fresh.
Former SoundCloud executive Jeff Toig will take command as Tidal’s new chief executive officer. SoundCloud's now former chief business officer will assume the role that’s been empty since summer.
Toig is a music technology industry veteran as a founder and Senior Vice President at Muve Music, Cricket Wireless's music service. He was also on the Virgin Mobile USA founding team during its launch. During a recent interview with Billboard, Toig explained why he took the job and what he and Jay look to accomplish moving forward.
“At a high level, this was a great opportunity to do something differentiated here. Jay Z and the artist-owners are deeply committed to Tidal and the vision they have for the business,” he said. “I think we have an alignment on how we start to shape something that connects fans with the artists they love in new ways, and do something that's unique and differentiated and doesn't look like other services out there. [Something] that leverages the creativity the artist-owners bring to the business that find their way into the service.”
Jay Z bought Tidal in March. The company will now be on its third CEO in under a year as its numbers are down compared to Spotify and Apple Music. Jay calls Toig "a leader at the intersection of consumer technology and entertainment for more than two decades." Hopefully he’ll get things turned around.
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