Toig is perhaps most well-known for his role as SoundCloud’s Chief Business Officer, thus he seems like a very appropriate candidate for TIDAL.
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When he gets his feet under the desk in January of next year he will be the third chief executive of a company that only launched in the first quarter of this year.
He founded Cricket Wireless’s music service Muve Music, and helped set up Virgin Mobile USA. According to Billboard, Jay Z says Toig has been “a leader at the intersection of consumer technology and entertainment for more than two decades”.
At a high level, this was a great opportunity to do something differentiated here.
Toig’s approach to this precarious new job will be to try and further differentiate Tidal from rival services like Spotify and Apple Music.
It’s starting to look inevitable that Jay Z will have to wave goodbye to his streaming service Tidal.
Tidal has a really unique set of assets. We’re deeply committed to this business and we’re focused on building a scaled, sustainable, successful business that’s going to be here for a long time.
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Initial CEO Andy Chen was a leftover from the acquisition of Tidal from Swedish company Aspiro, and he lasted only a month following the service’s March relaunch.
