Reports have surfaced that Amazon is in talks to create a new free, ad-supported music streaming service:
20 million subs for its music services — this confidence makes sense, and bodes well for its ability to pitch high listener counts to advertisers for its potential new service.Amazon has the capital and reach to succeed with a new music streaming service, even against free ad-supported incumbents like Spotify and Pandora., but its continued investment in the platform has paid off in the long run: Amazon now controls the largest share of the global smart speaker market.
Amazon could drive uptake to an ad-supported streaming service by making it the most compatible with its smart speakers. Amazon's smart speakers are a popular way for consumers to stream music. It can — and likely will — leverage its ownership of the hardware to direct users to its service, possibly even going as far as to introduce friction points for competing services.
And as Amazon angles to both sell more smart speakers and market an ad-supported music service, it could potentially create a positive feedback loop between Echo purchasing and use of its ad-supported music platform.1. Sign up for the Digital Media Briefing to get it delivered to your inbox 6x a week. >>pass to Business Insider Intelligence and gain immediate access to the Digital Media Briefing, plus more than 250 other expertly researched reports.
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