According to the New York Post, Amazon is planning on directing it's Goliath attention on to the music streaming industry. Having already had a fair amount of success with it's film streaming service (and apparently having bought up a host of new films to show at this years Sundance Festival), it seems little surprise that the company would turn it's attention towards the lucrative and growing music streaming market.
From The Post:
The e-commerce giant has held meetings in the past few weeks to discuss licensing tunes for a full-blown subscription music service that would ape streaming music market leaders Spotify and Apple Music, several sources confirmed...
Amazon’s vice president of digital music, Steve Boom, is spearheading plans for the subscription service, sources said. It will feature a much more robust music selection than is now available via Prime. Amazon claims to be the biggest seller of physical music in the US and the No. 2 seller of digital music. But like its rival Apple, Amazon is seeing an industry-wide decline in the digital track download business.
Artists might want to get behind Amazon’s planned streaming music efforts because “if I’m an artist and I want to reach fans of my music, and I recognize that people like to interact with music in different ways, we’re really the only place that touches all of the different formats,” Boom told Billboard in October.
Amazon is currently discussing a $9.99-per-month fee for its planned streaming service, sources tell The Post, although a discount $3- to $4-a-month price if bundled with Echo [an Amazon produced speaker] is also under consideration.