Amazon Music Reportedly Growing Faster Than Spotify

While the music streaming business is currently dominated by the likes of Spotify, Apple Music, Pandora and so on, an unlikely name appears to be reaching the top and at quite some pace.

According to a report on The Financial Times, Amazon’s dedicated music streaming service, Amazon Music Unlimited, is outgrowing the likes of Spotify and rest of the competition. It is said that overall subscriptions of Amazon Music grew at 70% in 2018. On the other hand, Spotify’s user growth is only said to be growing by 25%, showing big gains for Amazon at the cost of Spotify and other music streaming subscriptions.

Given that Amazon Music is relatively new to the streaming business, the influx of subscribers is expected.¬† However, when coupled with smart devices like the Echo, Echo Dot and Echo Show, Amazon’s service is no doubt excellent option. This has been one of the key aspects of Amazon’s music streaming business as it has the hardware to complement it.

If you’re looking to buy an Amazon Music Unlimited subscription, it will cost you $9.99 per month or $7.99 per month if you’re a Prime user. Some users are also getting Prime Music bundled with their regular Prime subscription albeit with a few exclusions.

All this points at the entry of a third big name in the music streaming business following Spotify and Apple Music. However, only time will tell if Amazon’s streaming service will outlast or even overtake its competition in the long run.

What do you think?

Source: The Financial Times

Via: Engadget