Peter Tonstad's stint as interim chief executive of Jay Z's Tidal streaming music service has come to an end.
Peter Tonstad's stint as interim chief executive of Jay Z's Tidal streaming music service has come to an end. The company confirmed on Tuesday that Tonstad has been let go after three months on the job. "We are thankful to Peter for stepping in as interim CEO and wish him the best for the future," a Tidal official said in a statement to The Wall Street Journal.
Vania Schlogel, the company’s Chief Investment Officer and public face for much of the past few months, was a no-show at a scheduled appearance during the New Music Seminar business conference today (June 23) in New York.
The official said that Tidal executives in Oslo and New York City will run day-to-day operations while the search for a new CEO continues.
Tidal currently has 770,000 paid subscribers, a far cry from Spotify's 20 million. It relaunched in late March with an artiste-first philosophy and is co-owned by some of the biggest names in music, including Madonna, Kanye West, Chris Martin of Coldplay and Beyonce.