TIDAL Fires 25 Staff Members, Including CEO
When Jay-Z's new streaming service TIDAL relaunched a few weeks ago with a lot of undue pomp and circumstance, you can be pretty sure that it didn't expect the backlash that ensued. Not only were music fans and potential users turned off by music's one percenters talking about making making more money piad subscribers, but fellow artists, producers and music execs, as well.
Guest Post by Bobby Owsinski on Music 3.0 Blog
It looks like all the hubbub has had some effect, as multiple reports have Tidal firing 25 staff members, including CEO Andy Chen. The company acknowledged that Chen is being replaced by former CEO Peter Tonstad, but the company categorized the other firings as "redundancies" and "streamlining."
In a statement posted by Business Insider, TIDAL explained the rehiring of Tonstad:
Although TIDAL enjoyed some enviable press coverage after its relaunch, the reviews generally haven't been kind, with many calling the catalog insufficient and others reported that the difference between the $19.95 per month high-definition audio tier and the standard quality tier generally indiscernible under most modern conditions.
Even the exclusive music and video content promised by the company's superstar shareholders proved to be short-lived, soon showing up on other streaming networks.
While the firings may or may not be related to the poor launch, TIDAL continues to stay in the news for all the wrong reasons.