The new Amazon effort will compete directly with Apple Music and Spotify, which boast more than 30 million songs. The Amazon service, which he called “inevitable,” “might take a little oxygen out of Apple’s potential pool of paying users,” he said. “A music service will further increase the daily interactions between Amazon and its customer base,” said former music executive Jay Samit when told about the company’s plan. Amazon.com is preparing to launch a standalone music streaming subscription service, placing it squarely in competition with rival offerings from Apple and Spotify, according to two people with knowledge of the matter. The new music service is unlikely to steal many customers from Spotify, but it could pose a threat to other players, said David Pakman, a partner at Venrock who headed early Apple music efforts, when informed of the move.

Source: Hindustan Times June 11, 2016 07:18 UTC