Amazon and Pandora to compete with Spotify and Apple Music

Pandora

Amazon is nearing deals with the world’s largest record labels to launch a subscription music streaming service as soon as next month… Pandora is also closing in on licensing agreements for an on-demand streaming service, which the internet radio provider has said it aims to debut later this year… Both companies are planning services for $9.99 a month, putting them in direct competition with Spotify and Apple Music for listeners. If the deals go through, Amazon and Pandora will enter a crowded field as the industry looks to replace years of shrinking album sales with streaming, which has become the dominant form of digital music consumptionSpotify, Apple, SoundCloud, Deezer, Tidal and Google Play also offer music subscriptions for $9.99 a month, while Vevo has flagged plans to introduce a service later this year. Spotify and Apple Music have a clear lead over the competition, with 30 million and 15 million paying customers, respectively.

 

Anna Nicolaou and Leslie Hook

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