Tidal is a company that, despite their growing popularity, have not had a tremendous amount of stability when it comes to top-level management. Today, they hope to buck that trend with the hiring of a new CEO.
According to Complex, former Kobalt Music Group president Richard Sanders is moving sticks to Tidal to take on the foremost leadership position with them. He becomes the fourth person in barely over two years to take the wheel at the helm of Jay-Z's streaming service. Tidal's previous CEO, Jeff Toig, parted ways with the company earlier in 2017, but had begun to offer some stability after their seemingly constant state of shake-ups in the past.
Worth a reported $200 million, with an influx of cash coming after Sprint bought a 33.3% stake in the streaming platform, has still been unable to get their paid subscriber numbers up close to those of Spotify and Apple Music. Sanders would seem to be an ideal person to try and mend that problem, having served as president of global marketing for Sony Music, as well as executive for RCA and Arista Records. Only time will tell if this move will be one that makes a lasting impact.
One saving grace for Tidal has been the success of 4:44, whose perfectly calculated roll out has led to people coming back for more on the site and/or app. However, Sanders will have to help guide them through uncertain territory once the hype behind Hov's album dies out completely.