, Inc. (AMZN) Faces Off Against Music Streaming Giants with New Echo Speaker

Amazon's newest streaming service, the Echo speaker, is expected to arrive next month, Inc. (NASDAQ:AMZN) has set plans to better position itself against streaming giants like Apple Music and Spotify. Reports reveal that Amazon is about to make waves in the music streaming space by introducing a cheaper music service, which rolls out in September. The offer will allow users unlimited access to songs for only $10 a month.

Sources say the company is still building ties with music producers. However, experts like USA Today’s Brett Molina anticipate its arrival next month. Beyond the firm’s $10 service, a similar offer will be made available through Amazon’s Echo speaker, which will provide access to the streaming service for only $4 to $5 per month.

Amazon is making a foray into streaming products, allowing consumers to subscribe to its Amazon Video service as a stand-alone option earlier this year at only a dollar less than its lead rival Netflix.

In terms of music streaming, the company already has its long-standing Prime Musicoffered to Amazon Prime members for only $99 a year. Streamed music consumers will be exposed to a few more options from Amazon in the next few weeks. The move is recognized as clear play at promoting the company’s Echo products.

Whether the streaming service will be made available on all Echo gadgets or just the Echo speaker is still unclear. Amazon offers a range of Echo music products that include the Echo Dot for $90, the Amazon Tap for $115, and the leading Echo speaker, sold for $180. All three of these devices are smart, connected speakers. In addition to playing music, they also feature the company’s in-house virtual assistant, Alexa.

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The $5 streaming option that these gadgets will offer stands at half the price of leading rivals like Apple Music and Spotify. It also differs from most music streaming products, which tend to target smartphone users.

Amazon’s Prime Music is already well-established. It only falls short in that it offers users “more than a million songs.” In comparison, Spotify and Apple Music offer around 30 million music titles. However, the new service promises to have a much larger library, making Echo Speaker much more appealing to Amazon consumers.

In terms of compatibility, it is not clear what this will mean for other music services on the Echo speaker. Spotify is currently usable on the devices. While Apple Music can also be used on the Echo, it requires some extra effort to make the service work.

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