Report: Amazon is on the verge of launching its own music streaming service

A report from Reuters, citing two sources close to Amazon, says that the online retail giant is about to launch a music streaming service to rival the likes of Spotify. The as-yet-unnamed service is expected to launch towards the end of summer or beginning of fall, pending negotiations with record labels.

With a rumored monthly fee of $9.95, the streaming service does nothing to compete with its rivals financially, but Amazon will still be hoping that it will help boost its Echo product. The paid-for streaming service will sit alongside the free one currently available to Amazon Prime subscribers. Amazon believes its ecosystem will help it stand out from Google Play Music, Apple Music et al.

Reuters says that once label licensing has been finalized, Amazon hopes to become everything to all people. Having recently branched out into fresh food deliveries, the company wants to continue to provide not just physical, but also an expanding range of digital goods and services. Being able to tie music streaming closely to the Echo, Amazon is able to offer people a complete package.

This will not be the first time Amazon has offered up monthly subscriptions to digital services. The company currently offers Prime Video for a monthly fee, breaking away from the annual fee it previously seemed to prefer.

Unsurprisingly, Amazon is not offering any comment on the rumors at the moment, but it shouldn't be long before more details -- and official confirmation -- start to creep out.

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