People were understandably skeptical when Amazon decided to launch its own premium video-streaming service, but the company has long since proven that it can hold its own against the likes of HBO and Netflix, and it has the Emmys to prove it. With its venture into the video-streaming market proving to be massive success, Amazon is ready to continue with its expansion into the entertainment market, and the next step might have Spotify a little worried. According to the New York Post, the company is planning to release its own premium music-streaming service this year, which will greatly expand on the limited Prime Music service that it offers currently.
Amazon is prepping a Spotify-killer, music sources tell 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. The plan, still at an early stage, is the latest attempt by Amazon Chief Executive Jeff Bezos to become the premier distributor of entertainment content from books to TV and movies to music. Amazon executives have been filling the proverbial cart this week with multimillion-dollar movie acquisitions at the Sundance Film Festival for its streaming video service. Amazon is also prepping the company’s first-ever Super Bowl commercial, a $5 million spot starring Alec Baldwin, to promote its latest gadget, Echo, a speaker that responds to voice commands. Amazon currently offers about 1 million songs to customers of its $99-per-year Prime shopping service. The planned stand-alone music streaming service would come with its own monthly fee. Prime Music’s free offerings this week include such chart toppers as Panic! At the Disco and the Beatles, as well as playlists for yoga and warm-up sessions. Amazon’s vice president of digital music, Steve Boom, is spearheading plans for the subscription service, sources said.