UPDATE (4/20/15, 5:42 p.m. ET): MTV News has learned that Forbes was incorrect in their reporting. In addition, a representative from Tidal told Business Insider that staff members were not fired, and instead said that the company is “streamlining.”
Have you subscribed to Tidal yet?
Jay Z and his fellow superstar musicians teamed up for a big celebrity-studded panel last month to explain how excited they were about working with the music subscription service, but it seems like the company is still figuring out a few things.
According to Forbes, Tidal recently fired 25 employees, including CEO Andy Chen. For now, Chen is being replaced by former CEO Peter Tonstad and the company says that they're weeding out “redundancies” and “streamlining" their efforts.
"Tidal’s new interum [sic] CEO is Peter Tonstad -- a former CEO of parent company Aspiro Group. He has a better understanding of the industry and a clear vision for how the company is looking to change the status quo," the company said in a statement shared by Business Insider.
"He’s streamlining resources to ensure talent is maximized to enhance the customer experience. We’ve eliminated a handful of positions and refocused our company-wide talent to address departments that need support and cut redundancies. Tidal's offices globally will remain and grow: we are already hiring for several new positions now."
Part of the company's big pitch was offering exclusive content from artists, like Jay Z's "Glory" video, which they premiered last week.
And now they're even offering subscribers the opportunity to import their current playlists to the service, via a program called Soundiiz. This is likely an attempt to reach people who already subscribe to streaming services like Spotify.