Amazon Looks To Break Into Streaming Music Offering Services For Prime Customers
According to BuzzFeed, Amazon has already inked agreements with major labels to add a bunch of old and newer music for existing Amazon Prime members to stream on demand, similar to how Prime Instant Video works.
This is a crowded and competitive space Amazon is getting into, though it's not necessarily looking to topple the likes of Spotify and Beats Music, the latter of which was recently acquired by Apple for $3 billion. Instead of offering a full catalog of music of nearly every song under the sun, Amazon would offer fewer songs that it's been able to license from labels at a discount.
Amazon Prime is already home to more than 20 million subscribers. By throwing streaming music into the mix, it's yet another incentive to give the service a spin. It also helps soften the blow for customers ticked off at the recent price increase from $79 per year to $99 per year.