Amazon to launch streaming music service

Amazon is reportedly preparing to launch its own standalone music streaming service, which will compete with Spotify and Apple Music. Amazon is finalizing licenses with labels for the service and it is expected to launch in late summer or early fall for $9.99 per month, in line with major rivals.

Amazon currently has Prime Music, a part of the $99 yearly Prime entertainment offering, but its music selections are way limited than rivals.

The new music offering also is expected to increase the appeal of the Amazon Echo, its home speaker, which searches the Internet and orders products from the retailer with voice commands.

"A music service will further increase the daily interactions between Amazon and its customer base," said former music executive Jay Samit when told about the company's plan.

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