Tidal Has a New CEO

What is Toig’s turnaround strategy for Tidal? The former SoundCloud exec will likely fill the office with effect from January 2016.

Tidal’s unleashing has been a bumpy road to say the least and even Jay Z forgot he owned the music streaming service a few months ago. Jay Z and the artist-owners are deeply committed to Tidal and the vision they have for the business.

Jay Z has been facing increasing difficulty to compete with other services such as Spotify and Apple Music. Andy Chen and interim CEO Peter Tonstad did not last long, while other executives left the company or were fired. This is so because users view the service as a means of making more money for these popular artists. Yet in the months since, the subscription service has had its share of troubles. His SoundCloud background, coupled with his experience running an on-demand streaming service at the platform he founded-Muve Music-may make him the most-experienced Tidal chief executive yet when it comes to the music business. It has exclusive content, deep connection with the artists – A-list artists – live events like Tidal X, and a unique set of assets.

But with competition heating up among streaming services, knowing the industry can’t hurt.

Despite the company’s teething problems, recruiting Toig is a landmark move.

Tidal bowed with musical star power recruited by married superstars Jay Z and Beyonce.

Based on those credentials, Toig appears to be the most music-savvy of the bunch. Tidal’s new CEO may be the right person to help achieve success for the company at the beginning of 2016.