Unnamed sources tell Buzzfeed that Amazon (AMZN) plans to launch its own music streaming service this summer.
Amazon’s new music streaming service will be offered through Amazon Prime and will include a catalog of music tracks that were released at least six months ago. Amazon Prime subscribers will be able to stream music tracks on demand. The Amazon Prime music streaming service is expected to launch in June or July.
Amazon Prime has reportedly concluded licensing deals with Warner Music Group and Sony Music Entertainment that provide access to portions of the record labels’ catalogs. However, unlike rival music streaming services like Spotify and Rdio, Amazon is not aiming for comprehensive music streaming, but rather looking to obtain a variety of tracks at discount licensing fees.
The new Amazon Prime music streaming service will reportedly allow users search for individual music tracks and to stream music on multiple devices.
In March, Amazon announced that it would raise the annual price of an Amazon Prime membership from $79 to $99.
Amazon is entering an increasingly crowded music streaming field. It will compete with Pandora (P), Apple’s (AAPL) iTunes Radio and Google’s (GOOG) streaming music service.
AMZN shares slipped modestly in Friday morning trading.
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