Jay Z’s Tidal Just Fired Its COO and CFO

Jay Z’s streaming music service Tidal has just fired its CFO Chris Hart and COO Nils Juell, according to European news reports. The layoffs come at a turbulent time for Tidal, with high-profile releases giving the service some much-needed attention, while acquisition rumors continue to emerge.

The reasons behind the layoffs are murky at best. Swedish news site Breakit reported Tuesday that Hart was let go over a dispute on the way the company reports streaming numbers. Tidal on the other hand tried to paint the move as part of a bigger restructuring, which also involved relocating some key resources: Tidal has also moved its operations and accounting departments to its New York office, the company told The Verge.

High-profile ousters are nothing new for Tidal: The company hired its third CEO in nine months last December.

Tidal has gotten a lot of attention for high-profile exclusives lately, including the release of Kanye West’s album “The Life of Pablo.” Some of that likely has translated into a surge of new users, but it’s unclear how loyal those users will be.

There have been persistent rumors that Jay Z may be looking to sell Tidal, with Samsung being one of the companies being named as a possible suitor. Those rumors were first fueled when Jay Z dropped by Samsung’s Silicon Valley campus for a discussion with key media execs last fall. A few days ago, reports surfaced that the two companies are talking again.

More Digital

  • ‘Bumblebee’ Again Tops Studios’ TV Ad

    ‘Bumblebee’ Again Tops Studios’ TV Ad Spending

    In this week’s edition of the Variety Movie Commercial Tracker, powered by the TV advertising attention analytics company iSpot.tv, Paramount Pictures claims the top spot in spending for the second week in a row with “Bumblebee.” Ads placed for the sci-fi/action film had an estimated media value of $6.31 million through Sunday for 941 national [...]

  • Kathreen Khavari

    Kathreen Khavari Tapped by Refinery29 for 'Embrace' Comedy Pilot

    Refinery29 will begin production in 2019 on “Embrace,” a pilot from writing duo Kathreen Khavari (“Big Little Lies”) and Chuck Neal. “Embrace” will star Khavari as she comes up with an unconventional solution to prevent her Iranian immigrant parents from having to move back to Iran. Refinery29 bills the show, set in Khavari’s hometown of [...]

  • Outlander Season 4

    Starz Available for $5 a Month for Three Months Through the Holidays

    Starz is having an online holiday sale: The premium cable network is selling three months of its online streaming service for $5 per month, down from the regular price of $8.99 per month. The offer is available to new users who sign up until the end of December. Subscribers also get a 7-day free trial, [...]

  • Meg Whitman and Jeffrey Katzenberg Strictly

    Listen: Jeffrey Katzenberg, Meg Whitman Go Long on Short-Form Entertainment

    One is a legend in the media business, the other in the tech world. But together Jeffrey Katzenberg and Meg Whitman are intent on bringing the best of both worlds together for their ambitious new venture: Quibi. On the latest episode of the Variety podcast Strictly Business, the dynamic duo shared their battle plan to [...]

More From Our Brands

Access exclusive content