News - 02/03/2016

Tidal fires CFO and COO in yet another executive shake-up

Tidal fires CFO and COO in yet another executive shake-up

If Tidal’s goal is to remain front page news in music industry publications it is certainly succeeding. After rumours of a sale to Samsung and a $5m lawsuit on mechanical royalties, the company has now fired its CFO and COO in short succession. 

CFO Chris Hart was reportedly fired due to the way Tidal reported streaming numbers, whilst there are no indications as to the reason for Nils Juell being let go. Tidal is refusing to report its streaming numbers to Nielsen, which resulted in Kanye West being unable to chart with his latest album released exclusively on the platform.

Tidal, however, told The Verge that the company parted ways with the executives as it seeks to focus its operations in New York, and the two were still based in the Oslo office. 

Tidal faces turbulent times ahead: streaming services have one thing in common and that is that they all end up losing a lot of money, especially early on. Firing the CFO just as the company seeks - reportedly - either to sell or to raise further capital may turn out to be an own goal unless Hart is replaced swiftly. 

 

(Andrea Leonelli) 

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