Jay Z's relaunched streaming service TIDAL may only be a few weeks, but the Spotify competitor is already facing some major internal issues. Today (April 17), it was announced that the CEO of TIDAL's parent company Aspiro, Andy Chen, is leaving the company.
In a statement to The Business Insider, TIDAL announced that former CEO of Aspiro Group Peter Tonstad will be taking Chen's place in the interim until they find a more permanent person.
"TIDAL's new interum [sic] 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," the company said in a statement.
Chen isn't the only one leaving the company - 25 other staffers got fired, as well.
TIDAL dismisses that the change in personnel is related to poor reviews of the service or artist backlash from the likes of Mumford and Sons and Lily Allen and instead insists that it's all about streamlining the company and getting rid of "redundancies."
"I believe in TIDAL and what the team is doing to affect the change the music industry needs. We're streamlining the company and refocusing our resources to ensure the platform continues to grow, and listeners can make a connection to their favorite artists. No one else is doing this," Tonstad said.
