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Jay Z's Tidal streaming service loses its 3rd CEO in 2 years

Associated Press logo Associated Press 5/26/2017
FILE- In this Nov. 4, 2016, file photo, Jay Z performs during a campaign rally for Democratic presidential candidate Hillary Clinton in Cleveland. Jay Z’s Tidal streaming service has lost its third CEO in two years. Tidal said Friday, May 26, 2017, that Jeffrey Toig has left the company, which launched in 2015. Toig joined in Tidal in Jan. 2016. (AP Photo/Matt Rourke, File) © The Associated Press FILE- In this Nov. 4, 2016, file photo, Jay Z performs during a campaign rally for Democratic presidential candidate Hillary Clinton in Cleveland. Jay Z’s Tidal streaming service has lost its third CEO in two years. Tidal said Friday, May 26, 2017, that Jeffrey Toig has left the company, which launched in 2015. Toig joined in Tidal in Jan. 2016. (AP Photo/Matt Rourke, File)

NEW YORK (AP) — Jay Z's Tidal streaming service has lost its third CEO in two years.

Tidal said Friday that Jeffrey Toig has left the company, which was launched in 2015. Toig joined Tidal in January 2016.

The streaming service said in a statement that it will announce a new CEO "in the coming weeks" and wishes Toig "all the best in his future endeavors."

Tidal is also co-owned by Beyonce, Madonna, Rihanna, Kanye West and other artists. Sprint announced in January it was buying a 33 percent stake in Tidal, which has more than 40 million songs and 140,000 videos. It is available in more than 52 countries.

Tidal's former CEOs include Peter Tonstad and Andy Chen.

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