Home / Music & Arts / Jay Z’s Tidal interim CEO leaves after 3 months on the job

Jay Z’s Tidal interim CEO leaves after 3 months on the job

Jay Z performs during TIDAL X: Jay Z B-sides in New York on May 17. He said goodbye to his second CEO since the streaming service launched.Theo Wargo

Jay Z performs during TIDAL X: Jay Z B-sides in New York on May 17. He said goodbye to his second CEO since the streaming service launched.

Jay Z’s Tidal wave is quickly becoming a tsunami.

Peter Tonstad is the second CEO to leave the music streaming service since its launch in October, the Wall Street Journal reports.

Tonstad, who was on the job for just three months, was named interim CEO shortly after Tidal ditched its first CEO, Andy Chen, in April.

“We are thankful to Peter for stepping in as interim CEO and wish him the best for the future,” a Tidal official told WSJ, which reported Tonstad was let go.

Peter Tonstad stepped down as CEO of Tidal, the music streaming service started by musician Jay Z. Courtesy Tidal

Peter Tonstad stepped down as CEO of Tidal, the music streaming service started by musician Jay Z. 

In a conflicting report, Tonstad said he quit.

“The only thing I can confirm is that I have resigned,” he told Norwegian news site Dagens Naeringsliv, according to Gizmodo.com.

Although the streaming service had a quiet launch in October, it made headlines in March after a star-studded launch event #TIDALforALL in New York City. There it was announced that superstars like Madonna, Kanye West, Rihanna, and Jay’s wife Beyoncé are among the A-list musicians who are co-owners of Tidal.

(From l.) Usher, Rihanna, Nicki Minaj, Madonna, Deadmau5, Kanye West, Jay Z and J. Cole onstage at the Tidal launch event #TIDALforALL at Skylight at Moynihan Station on March 30 in New York City.Jamie McCarthy/Getty Images for Roc Nation

(From l.) Usher, Rihanna, Nicki Minaj, Madonna, Deadmau5, Kanye West, Jay Z and J. Cole onstage at the Tidal launch event #TIDALforALL at Skylight at Moynihan Station on March 30 in New York City.

Alicia Keys, another co-owner, said the artists hope Tidal will “forever change the course of music history.”

Despite reports the service is failing, Jay Z defended it in late April, claiming a “smear campaign” is underway by big companies spending millions to launch against Tidal.

“Tidal is doing just fine,” he tweeted April 26. “We have over 770,000 subs. We have been in business less than one month. #TidalFacts”

JUSTIN LANE/EPA

Jay Z previously defended Tidal against reports the music streaming service is failing.

That’s nothing compared to Spotify’s 60 million subscribers and the potential tidal wave Apple Music can bring when it launches on June 30.

Follow on Twitter @RiveraZayda

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Music & Arts – NY Daily News

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