Amazon Inc. is reportedly preparing to launch a music streaming service. This fresh undertaking is set to compete with existing services for streaming such as Apple Music, Spotify, and Tidal.

Amazon which already offers a limited catalog streaming music service to Prime subscribers. However, the company reportedly plans to launch an expanded and standalone service later this year. At $99.00 a month one would be able to access a catalog of music. Amazon is now allowing its Prime subscribers to pay monthly fees as opposed to annual fees. These recent developments would only diversify its subscription offers.

It is going to be interesting to see the market’s reaction to this new service with Spotify and Apple Music boasting of 30million and 13 million subscribers respectively.

 

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