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

Meet the leading female front runners of the Kiwi channel

Meet the leading female front runners of the Kiwi channel

Reseller News honoured the leading female front runners of the New Zealand channel at the 2018 Women in ICT Awards (WIICTA) in Auckland. The awards honoured standout individuals across seven categories, spanning Entrepreneur; Innovation; Rising Star; Shining Star; Community; Technical and Achievement.

Meet the leading female front runners of the Kiwi channel
Meet the top performing customer-centric Microsoft channel partners

Meet the top performing customer-centric Microsoft channel partners

Microsoft honoured leading partners across the channel following a year of customer innovation and market growth in New Zealand. The 2018 Microsoft Partner Awards recognised excellence within the context of the end-user, spanning a host of emerging and established providers.

Meet the top performing customer-centric Microsoft channel partners
Reseller News launches new-look Awards at 2018 Judges’ Lunch

Reseller News launches new-look Awards at 2018 Judges’ Lunch

Introducing the Reseller News Innovation Awards, launched to the channel at the 2018 Judges’ Lunch in Auckland. With more than 70 judges now part of the voting panel, the new-look awards will reflect the changing dynamics of the channel, recognising excellence across customer value and innovation - spanning start-ups, partners, distributors and vendors.

Reseller News launches new-look Awards at 2018 Judges’ Lunch
Show Comments