#Roommates, things don’t look to be running smoothly over at #Tidal! These days mogul #JayZ has a lot on his plate. With the birth of his twins on the way and his continued involvement with community issues, his multi-million dollar streaming platform #Tidal has suffered yet another set back with the departure of its third CEO Jeff Toig in just two short years.
In a statement to Billboard, #Tidal announces, As part of Tidals continued expansion this year well be announcing a new CEO in the coming weeks. Making the position available for the fourth time in just 2 years.Though the reason for Toigs departure is unclear, sources say Jeff stepped down from his position in March of this year after serving 18 months as CEO.
If you remember Jay Z bought the streaming service back in 2015 for $56 million and has since made it a $200 million dollar company with the help of exclusive releases, streaming incentives and live events.
Though Tidal has proven to be a lucrative business endeavor for #Hov, both subscription retention and high level Executive changes has plagued the company since 2015.
Clearly somethings going on at Tidal that just isnt adding up! Hopefully with the announcement of the new CEO Tidal can solidify its position in the streaming world.
Source: http://www.billboard.com/articles/business/7809477/tidal-ceo-jeff-toig-departure-jeffrey-new-executive
