TIDAL – the coined “revolutionary” high-fidelity music service headed by rapper Jay-Z, and that claims to be the first that is owned by the artists who’s music features on it, just lost its Chief Executive Officer.
With less than a week to go before Apple switches on Apple Music – and its global radio station, Beats 1, (which notably received some stiff competition from Google, earlier this week) – for the first time, the WSJ reports this morning that TIDAL’s recently assigned interim CEO, Peter Tonstad, has been let go.
The streaming service, which saw its public re-launch generate huge fanfare towards the end of March, “reportedly, has a paying subscriber base of 770,000 users” the report notes.
Meanwhile, Apple’s own music streaming service, Apple Music, that is set to tie-in to its ambitious new radio project, will officially go live – June 30.
The company is reported to have an expected capture rate of 100 Million by year’s end. That would be a tough call, if it wasn’t for the over 100 Million iTunes accounts that already have debit and credit sources attached to them – perfect for the launch of a subscription-based music service … wouldn’t you say?
Apple Music will cost $9.99/month for individuals, and $14.99/month for a family (up to 6 members).
At this point, the 3-month FREE user trial is just the cherry.