All snark aside, according to BGR, Jayz’s Tidal music service has turned out to be a veritable flop while it’s competitors actually experience a surge in subscribers.
BGR claims that part of Tidal’s failure stems from its use of big name celebrities, who inspired very little sympathy from the public when it came to their paychecks. Barely two weeks after the app made its brief appearance on the top 20 download charts, the app has fallen from grace in a big way, leaving the top 700 list altogether.
Let’s not forget, barely a month into its launch, Tidal’s CEO Andy Chen left the music company. It was stated Chen would be replaced by Peter Tonstad, the former CEO of parent company Aspiro Group. According to the announcement:
“He [Tonstad] has a better understanding of the industry and a clear vision for how the company is looking to change the status quo. He’s streamlining resources to ensure talent is maximized to enhance the customer experience.”
It was also added that the newly formed company had already “eliminated a handful of positions” which didn’t seem to bode well for its health. Add on top of that, the spike in competitor’s performance, likely due to the free press given to them by the app’s launch, and you have a company that will probably be used as an example in business courses as an example of “all press being good press.”
Tonstad has a long road ahead of him if he’s going to get the star-studded app on track, and we do not envy his position.
What do you think of Tidal? Give us your opinions in the comments down below!