It seems that the guys from Tidal are not able to be a real option among users who have contracted a streaming music service, despite offering their High Fidelity service, a service whose price is double what we can find both in Spotify and on Apple Music. The company, which is usually on everyone's lips thanks to the controversial statements made from time to time by some of its owners, has just announced that Jeff Toig leaves the position as the head of the company. Toig has been the company's third CEO in the past two years.
According to the publication Billboard, Toig left his position in March of this year, after the streaming music company received a 200 million injection from Sprint. In the statement that Tidal has sent to the media, we can read how the next head of the company will be announced in the coming weeks to continue with the company's expansion plans. Before you start working at Tidal, Toig was working as a business director at SoundCloud, in addition to being the founder of Muve Music and Virgin Mobile USA.
Tidal's financial troubles are no secret. Jay-Z bought the company for $ 56 million in 2015, losing $ 28 million that same year, and $ 10.4 million last year. While its competition is currently at 50 million (Spotify) and 20 (Apple Music), the latest numbers of the company affirm that it has just over 1 million subscribers, figures very far from those that ensured that the company had 4 million users. At the moment, what seems clear is that Tidal has shown that it does not know how to do things well and that it is still not an option for users who enjoy a streaming music service.