Menu
Tidal CEO out after three months on the job

Tidal CEO out after three months on the job

Peter Tonstad has left his post at the music streaming service, with no successor named.

Former Tidal CEO Peter Tonstad

Former Tidal CEO Peter Tonstad

Tidal, the music streaming service owned by rapper and music producer Jay-Z, has just lost its second CEO this year.

Peter Tonstad has departed from the recently relaunched streaming service after just three months on the job as interim CEO, the company said Tuesday. Tidal "will be transitioning to a permanent CEO" at some undisclosed point in the future, and the company's current executives will carry on day-to-day operations until the firm has named a replacement for Tonstad, company spokeswoman Jana Fleischman said in an emailed statement.

It's yet another rough sign for Tidal, which launched in March with the backing of several high-profile artists, including Daft Punk, Nicki Minaj and Kanye West. Tonstad, who was previously the CEO of Tidal's parent company Aspiro, took over the chief executive role in April, after Andy Chen departed unexpectedly.

The service has tried to use exclusive music videos and a $20-per-month high-quality streaming offering to attract music fans in addition to its more standard $10-per-month streaming plan. Tidal had about 800,000 subscribers in early May, which is a drop in the bucket compared to Spotify's 20 million paid subscribers.

Tidal has to differentiate itself in a very crowded streaming music industry. Google just launched a new, ad-supported free tier for the company's Play Music streaming service, and Apple will launch its new Music service at the end of the month. There are plenty of other competitors all vying to meet customers' needs for a music fix, including Rdio, Deezer, Rhapsody and Microsoft's Xbox Music service.

Subscribe here for up-to-date channel news

Follow Us

Join the New Zealand Reseller News newsletter!

Error: Please check your email address.

Tags business issuespersonnelTidalPeter TonstadJay-Z

Featured

Slideshows

StorageCraft celebrates high achievers at its inaugural A/NZ Partner Awards

StorageCraft celebrates high achievers at its inaugural A/NZ Partner Awards

Revealed at a glitzy bash in Sydney at the Ivy Penthouse, the first StorageCraft Partner Awards locally saw the vendor honour its top-performing partners with ASI Solutions, SMBiT Pro, Webroot, ACA Pacific and Soft Solutions New Zealand taking home the top awards. Photos by Maria Stefina.

StorageCraft celebrates high achievers at its inaugural A/NZ Partner Awards
Kiwi resellers make a splash on Synnex and Lenovo RotoVegas road trip

Kiwi resellers make a splash on Synnex and Lenovo RotoVegas road trip

​Synnex and Lenovo hosted 18 resellers for an action-packed weekend adventure in RotoVegas, taking in white water rafting on the Kaituna River, as well as quad biking and dinner at Stratosfare​, overlooking Lake Rotorua at the top of Mount Ngongotaha​. Photos by Synnex.

Kiwi resellers make a splash on Synnex and Lenovo RotoVegas road trip
Show Comments