Jay Z's Tidal Music Service Loses Interim CEO
The shake-up happened just days after Apple Music agreed to pay labels during its upcoming three-month free trial, bowing to Taylor Swift's open letter.
After a rough launch, Jay Z's Tidal has lost a corporate leader.
"We can confirm interim CEO Peter Tonstad is no longer with the company," a rep for the music streaming company tells The Hollywood Reporter. "We are thankful to Peter for stepping in as interim CEO and wish him the best for the future."
Tonstad has yet to be replaced, according to the streaming company.
"Tidal will be transitioning to a permanent CEO as part of our strategic plan to create a leading platform," the rep continues, "and current executives in New York and Oslo will continue to lead our rapidly developing innovation and content initiatives until our new CEO is in place."
The announcement comes two days after Taylor Swift convinced one of Tidal's biggest competitors, Apple Music, to revise its payment policy during its upcoming three-month trial period.
Apple had initially refused to pay labels during the trial, but Sunday, Swift penned an open letter criticizing Apple for the no-pay period, writing, "I find it to be shocking, disappointing and completely unlike this historically progressive and generous company."
Apple responded hours later, promising to reverse the initial plan.
Tidal has also faced considerable competition from competitor Spotify, which has continued to dominate the streaming space since Tidal entered to much fanfare in March.