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.


Follow Us

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags business issuespersonnelTidalPeter TonstadJay-Z

Featured

Slideshows

The making of an MSSP: a blueprint for growth in NZ

The making of an MSSP: a blueprint for growth in NZ

Partners are actively building out security practices and services to match, yet remain challenged by a lack of guidance in the market. This exclusive Reseller News Roundtable - in association with Sophos - assessed the making of an MSSP, outlining the blueprint for growth and how partners can differentiate in New Zealand.

The making of an MSSP: a blueprint for growth in NZ
Reseller News Platinum Club celebrates leading partners in 2018

Reseller News Platinum Club celebrates leading partners in 2018

The leading players of the New Zealand channel came together to celebrate a year of achievement at the inaugural Reseller News Platinum Club lunch in Auckland. Following the Reseller News Innovation Awards, Platinum Club provides a platform to showcase the top performing partners and start-ups of the past 12 months, with more than ​​50 organisations in the spotlight.​​​

Reseller News Platinum Club celebrates leading partners in 2018
Meet the top performing HP partners in NZ

Meet the top performing HP partners in NZ

HP has honoured its leading partners in New Zealand during 2018, following 12 months of growth through the local channel. Unveiled during the fourth running of the ceremony in Auckland, the awards recognise and celebrate excellence, growth, consistency and engagement of standout Kiwi partners.

Meet the top performing HP partners in NZ
Show Comments