Amazon is preparing to launch a standalone streaming music service that will rival Apple Music and Spotify, reports Reuters. The service is said to cost $9.99/month and offer a competitive catalog of songs.
Amazon is finalizing licenses with labels for the service, which likely will be launched in late summer or early fall, the sources said.
The new service may also increase the appeal of its Amazon Echo, a home speaker and personal assistant which has been a hit with customers. Google has already announced an Echo competitor and Apple is also said to be working on one as well.
David Pakman, a partner at Venrock who headed early Apple music efforts, says the "inevitable" Amazon service "might take a little oxygen out of Apple’s potential pool of paying users."
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Amazon is finalizing licenses with labels for the service, which likely will be launched in late summer or early fall, the sources said.
The new service may also increase the appeal of its Amazon Echo, a home speaker and personal assistant which has been a hit with customers. Google has already announced an Echo competitor and Apple is also said to be working on one as well.
David Pakman, a partner at Venrock who headed early Apple music efforts, says the "inevitable" Amazon service "might take a little oxygen out of Apple’s potential pool of paying users."
Read More