TIDAL Fires Its CFO & COO Days After Being Hit With $5 Million Lawsuit!

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TIDAL has had its fair share of troubles already, from major lawsuits to CEOs stepping down.

Well this week Jay Z‘s streaming music service continued to run into problems as Yesh Music and John Emanuele├óΓé¼ΓÇ╣ from the band The American Dollar filed a lawsuit against the company for streaming their songs without paying them royalties.

While this was bad enough news, it was also reported Tuesday that mere days after the suit was filed, Young Hov’s company has fired its CFO Chris Hart and COO Nils Nuell!

Related: Kim Kardashian Is Being Sued For Her Involvement In A Car Accident — In 2014!

TIDAL also made another major change as they moved their operations and accounting divisions from Oslo, Norway to New York City — where Jay lives. However, the company’s tech team will remain in Norway.

A rep from the company released a statement regarding the news, saying:

“As Tidal has grown into a global operation serving 46 countries we have moved our accounting and operations team to New York while our technology team and key support staff remain in Oslo.”

In regards to the firing, apparently the company and Hart had a bit of a disagreement about how streaming data should be shared.

If there was a disagreement, it does make sense that tensions could have been high as Z’s company has NOT shared streaming data with Nielsen Music for a couple of their recent exclusive releases — including Beyonce‘s Formation and Kanye West‘s The Life of Pablo.

As a result of the lack of reporting, Yeezy’s album ended up missing Billboard‘s chart entirely!!

These most recent firings only add to the list of employees the company has axed in the last year as head of product Ervin Dragonovic as well as CEO Peter Tonstad left the company last summer. Before that, CEO Andy Chen stepped down.

The silver lining here is that giving Hart and Nuell the boot means the newest CEO Jeff Toig can hire and mold his own team in the U.S. and hopefully keep his job a bit longer than his predecessors.

Will it fix things?

What do you think of the most recent firings?

[Image via WENN.]

Mar 2, 2016 1:10pm PDT

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