Tidal CEO Jeff Toig has quite the company just over a year after joining the business.
Toig, who joined the company following a two-year stint at SoundCloud, is the third CEO to leave the streaming service in the two years since it launched. A replacement has yet to be announced.
Tidal confirmed in a statement: “As part of Tidal’s continued expansion this year we will be announcing a new CEO in the coming weeks,” the company said in a statement. “We wish former CEO, Jeffrey Toig, all the best in his future endeavors.”
Earlier this year, Tidal sold a 33% share of the company to Telecoms firm Sprint, which will now make Tidal available to its mobile customer base, which currently totals around 45 million people. As part of the deal, Sprint CEO Marcelo Claure joined Tidal’s board of directors.
In a statement, the companies said: “Tidal and its artists will make exclusive content that will only be available to current and new Sprint customers.”
The service will likely cost Sprint users $9.99 per month, with Tidal set to ramp up its efforts to provide exclusive artist content for its customers.