With Tidal Squarepimentelprotocol: Square, the payment processing company known primarily for its popular Square Reader app for processing credit card transactions and its Square Cash app for peer-to-peer money transfers, is launching a streaming music service this week called Tidal.
The streaming service will reportedly offer exclusive content from more than fifty artists including Jay Z and Beyoncé. The price tag on a subscription will range from $9.99 to $19.99 per month, with one-time purchases ranging from $19.99 to $199.99.
Tidal is the first venture from a newly-launched company called Tidal Media. The company has raised $56 million with strategic investors thought to include Warner Music Group, Universal Music Group and Sony Music Entertainment, as well as various unnamed private equity firms.
One of the most significant areas where Tidal will stand out is in its focus on providing higher quality audio to subscribers. While streaming services like Spotify typically rely on lower-quality streams, Tidal will reportedly employ high-resolution audio for most of its content.
Promo for the new service.
While Tidal is launching with a streaming music model, it’s also offering up additional services in a way that allows it to compete with digital download stores like iTunes and Amazon.com. It’s apparently taking advantage of its relationships with top artists to offer up albums and songs individually at prices higher than what you’d normally see at retail outlets.
Subscribers will also get exclusive content, such as videos featuring music videos and behind-the-scenes footage. One of the major selling points, however, could be the promise of more substantial advances than traditional record labels offer. Tidal reportedly signed up with a company called Global Music Rights that already offers royalty advances for some high-profile artists.
Tidal says that the exclusives and more robust technology could help it compete with Spotify and Apple, which are known for offering up exclusive content for their streaming services, as well as providing a more robust experience. It also says that it will offer up “premium music experiences.”
The service may be made available as early as Thursday. If you’re interested in signing up for Tidal’s streaming music service, you can check out its website here.
Square recently launched a new iPhone app that lets you accept credit card payments from your smartphone. It’s also available for Android and Windows Phone. Lastly, it’s available for iPad, but you have to use the Square Stand to make payments with the service.
Square Reader App for iPhone
The iTunes app is here. (Free) … and here’s a review of it.
If you’re interested in receiving e-mail updates about stories like this one, you can add your address to our mailing list . UPDATE: Thanks to our post, we’ve also added a video of a demo of the Square card reader, which looks awfully nice. View it here .
Our Google+ profile is here . UPDATE 2: We’ve also added videos for both new Square Reader apps for Android and iPhone. Here’s the Android one and here’s the iPhone one. We hope you enjoy them!
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