The music industry is pinning great hope on subscription music services such as Spotify, a segment that's growing faster than any other part of recorded music industry. And now comes news that Amazon is looking to jump into the fray.
The Verge, citing multiple sources, reports that Amazon is holding informal talks with the music industry about launching an on-demand service similar to Spotify, which is the largest such service with 24 million active users and 6 million paid subscribers.
This development comes as Google is trying to launch a pair of subscription music services this summer, one tied to Google Play, the other as part of YouTube. Google sealed a deal with Warner Music Group earlier this month. Apple, of course, is also reportedly trying to start an streaming music service.