Tidal hires its fourth CEO

Photo credit: Hits Daily Double

Tidal has hired a new CEO, its fourth in about two years. Richard Sanders is the latest exec to enter a post that has become a revolving door for the niche streaming service. Sanders most recently served as president for Kobalt Music Group. His resume also includes time with Sony music, RCA, and Arista records.

Former SoundCloud exec Jeff Toig exited Tidal’s top role in March. Peter Tonstad and Andy Chen are the other leaders who have held the CEO position at Tidal since its relaunch under the ownership of rap icon Jay-Z in 2015.

Tidal began the year with the announcement that mobile phone company Sprint acquired a 33% stake in the streaming platform. That partnership manifested in a big win for Sprint customers, as they and Tidal subscribers were among the first to hear the new album from Jay-Z that dropped in June.

Anna Washenko