Tidal Names Ex-Soundcloud Exec As CEO, It’s 3rd In 8 Months

Tidal, despite some missteps, has attracted more than a million paying subscribers. Will hiring a digital music veteran as CEO, its third in eight months, be able to build on the base to turn Tidal into a top tier competitor?

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Tidal has named former Soundcloud Exec Jeff Toig as its third CEO since launching 8 months ago. Toig had been Soundcloud's Chief Business Officer until May of this year, and previously did stints at Muve Music,which he co-founded, as well as, Cricket Wireless and Virgin Mobile.

What is Toig's turnaround strategy for Tidal? According to the WSJ, it includes"managing costs and taking a different approach than his bigger competitors, expanding on some of the approaches Tidal has already started experimenting with. Those include promoting Tidal concerts, offering exclusive live-streamed shows and giving subscribers the chance to meet artists."

In a crowded market with Spotify, Apple and Google as your competitors, will that be enough?