Tidal have just appointed their third CEO since launching 8 months ago, this CEO happens to also be a former executive at SoundCloud.
Jay Z’s streaming service Tidal has seen reasonable success since it’s launch but has also faced some issues, particularly in the permanency of its staff. But Jay Z is hoping that bringing in Jeff Toig, a veteran music executive who worked as chief business officer at SoundCloud, will put Tidal on a distinguished and successful path. Jay Z described Toig as “a leader at the intersection of consumer technology and entertainment for more than two decades”.
Toig has been hired to fill the spot of Chief Executive Officer that has been available since the summer. Toig has a long history in the music industry having been founder and senior vice president of Muve Music, and part of the founding team of Virgin Mobile USA. Toig is looking to push the company by differentiating it from other streaming rivals by focussing more heavily on its promotion of live shows, exclusive tracks and even giving users the chance to meet some of the many artists connected to Tidal.
Toig spoke to Billboard about agreeing to join Tidal and the future of the company:
At a high level, this was a great opportunity to do something differentiated here. Jay Z and the artist-owners are deeply committed to Tidal and the vision they have for the business.
Tidal has a really unique set of assets. It has exclusive content, deep connection with the artists – A-list artists – live events like Tidal X, and a unique set of assets. It’s early in the game, but the seeds have been planted and it creates a really fascinating foundation.
This is my view: There’s clearly momentum building around subscription music services generally. The concept is gaining traction with consumers because you have a number of really meaningful companies that are in this space, and that puts a lot of focus and attention on a new idea. I don’t think any of us were sure, five years ago, that this business concept would take hold – but it’s taking hold.
I think first and foremost we’re aligned with major labels and publishers. We’re trying to do something that forwards their interests, something that’s going to help the artists, the writers and the creative community. We’re deeply committed to this business and we’re focused on building a scaled, sustainable, successful business that’s going to be here for a long time.
You can read the full interview on billboard.com here.
Tidal subscriptions cost between $9.99-$19.99 and give you access to over 40 million tracks, 90,000 videos, playlists curated by industry experts and music journalists.