Amazon.com, Inc. (NASDAQ:AMZN) may be launching a streaming music service this week, according to sources with the New York Times. The timing would be interesting because Amazon.com is having an event in Seattle next week where it is expected to announce a “3D smartphone.”
The music streaming service would be accessible by Amazon Prime subscribers. Amazon recently increased the membership fee of Amazon Prime from $79 per year to $99.
Sources with the NYT reported that the streaming music service will release music six months after it is released and Universal Music Group is not on board as of yet. This will make it harder to compete against services like Rdio, Beats Music, and Spotify. However, this would be a nice add-on for people that are subscribers of Amazon Prime anyway.