International
Jay-Z’s Tidal riding rough waves
It is less than a month that Jay-Z bought Tidal, music streaming service, for 56 million dollars, in that short time, the CEO of the company has stepped down and has been replaced; up to 25 employees of the company have been let go.
And when Jay-Z, the owner of Tidal, and big artistes like Jack White start making personal calls to subscribers to the premium music streaming service, then you know they are really desperate.
Though the company has their own explanation for the change in the company:
“Tidal’s new interim CEO is Peter Tonstad a former CEO of parent company Aspiro Group. He has a better understanding of the industry and a clear vision for how the company is looking to change the status quo. He’s streamlining resources to ensure talent is maximized to enhance the customer experience. We’ve eliminated a handful of positions and refocused our company-wide talent to address departments that need support and cut redundancies. Tidal”s offices globally will remain and grow: we are already hiring for several new positions now. We’re excited about our future and what’s in-store for fans who want the best listening experience.”
We only have to wait and see which way the tide flows.
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