MUMBAI: E-commerce giants Amazon will try to make an impression in the music space with the plans of launching its streaming service nearing to the execution. The standalone music streaming subscription service will be offered at $9.99 per month, the initial reports suggest.
The service will be launched in late summer or early fall, as the latest development suggests the company is finalising the deals with the record labels ensuring the possession of competitive catalog of songs. The effort would put Amazon against the major rivals like Apple Inc. and although the company forayed into the crowded streaming services a bit late, its arrival into the market further strengthens the competition.
With the focus to become consumers’ go-to one-stop shop for content and goods, Amazon would further enhance on its relationship with the consumer base through the streaming service offerings.
The concept of subscription services has helped Apple Music expand on its revenue, and Amazon would hope the approach attains similar result for its newest effort. Amazon offers limited catalog to subscribers of Prime and the consumers’ preference towards subscription services over paying for individual songs or albums has drove several players into emphasising more on the former.
Amazon’s entry into subscription-based service was inevitable and the monthly subscription would also eventually lead to executing annual subscription plans.