AMZN: Amazon Says Prime Music Is a Hit

The era of music is redefined: Amazon (AMZN) is saying that its Prime Music is officially a hit.

Amazon says that after its June 12 launch, Prime Music users downloaded “tens of millions” of song — exceeding industry expectations.

Itsamazon-amzn new Fire Smartphone may have helped Prime Music take off faster than the online retailer expected.

Amazon digital music vice president Steve Boom had this to say:

“Prime members across the country have been rockin’ out this week, exceeding our expectations for how well this new benefit would be received. We’re humbled and thrilled to see just how enthusiastically customers have responded to this service.”

Amazon is spotty on details however. There’s no exact number in the tens of millions of songs downloaded, though AMZN noted that users added more than 1 million Prime Playlists to their music libraries.

Prime Music is an added bonus to Amazon Prime subscriptions — which Amazon hopes to boost after increases its annual price earlier this spring.

While its music catalogue is limited, it does offer more than a million songs are available for streaming via Kindle tablets, online directly and Amazon’s Music app.

Amazon in some cases offers the ability to download songs for play offline.

AMZN stock is down .5% in morning trading.

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Article printed from InvestorPlace Media, https://investorplace.com/2014/06/amzn-amazon-says-prime-music-hit/.

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