Tidal brings on former Soundcloud/Muve exec as new CEO

Jeff ToigAfter cycling through two top execs (Peter Tonstad and Andy Chen) in less than one year, Tidal has named its newest CEO. Jeff Toig has taken the helm of the oft-beleaguered streaming service. Toig’s past experience most recently included time as chief business officer at SoundCloud. Before that, he was SVP and found of Muve Music, which has since been acquired by Deezer.

Understandably, there’s some curiosity as to why an experienced music pro would join up what many have predicted to be a sinking ship. In an interview with Billboard, Toig said he was attracted by Tidal’s available assets and its momentum as a newer figure in the streaming music industry. He also said that he appreciated the vision of the service’s iconic leader.

“I was fortunate to spend quite a lot of time with Jay Z, learning more about his vision for Tidal and why he made such a significant investment in this business,” he said. “It became clear to me that Jay and the artists behind the company are deeply committed to developing an amazing music experience for fans. I share a belief that this has been lost with many services, and it will be critical as we build Tidal into a leader in this space.”

Anna Washenko