Subscription based on demand music service has not yet proved to be a great business idea. There are a few companies in the market who have actually benefited with this business, true, but people are not really ready to get into the mix just yet. So the market for this kind of service is not yet saturated, which means that companies are still interested in jumping in.
The new player in this ground is said to be Amazon. According to the latest rumors, the company is apparently talking to some of the biggest record labels to get them on board this new subscription based music service. And these talks are said to be happening informally right now, kind of off the record. But if everything pans out well, the company will go official very soon. This is going to be a tough competition for companies such as Spotify and others who have been in the business for some time now, but are not as big as Amazon.
And rumors also say that Amazon is not the only company which is working on such a subscription based music service, Google and Apple are said to be busy with this as well. But we do not have any more juicy info about these. And it would actually be good to see all these companies working on a similar product. This kind of competition is just better for the consumer, who will be getting more options.
Given that all the three companies already have cloud based music streaming, there is no doubt that the quality of this new subscription based music service will be good from all the three, but what is going to be appealing for the user is the offers that these companies will be ready to work with. For example, limitless streaming of music, very less number of ads with free accounts, and unlimited streaming for free accounts. Well, I’m just thinking out loud here.