Amazon Reportedly Will Launch Music-Streaming Service This Summer

Just the latest premium service from e-commerce giant

Amazon will launch a music-streaming service under its Prime membership plan, BuzzFeed reported Thursday.

According to the news site, the e-commerce giant has inked deals with two out of the three major music labels, Warner Music Group and Sony Music Entertainment. The service, slated for June or July, would join a growing list of premium services already available via Amazon, including on-demand video and e-books.

The music service will reportedly limit the number of songs consumers can stream. Per BuzzFeed, it will feature only tracks and albums that are at least six months old. Other services, including Spotify, Beats and Rdio, promote a broader library of content.

Streaming music is hot, with Spotify recently hitting 10 million subscribers and Apple yesterday announcing the purchase of Beats Electronics for $3 billion, its biggest acquisition to date. Analysts chalked up the hefty price tag in part to opportunities for Apple to ramp up its music-streaming services.

Not all are bullish on Apple's purchase of Beats.

"It’s true that Apple has a lot of cash to spend on acquisitions, but this is not a good way to spend it," Karsten Weide, 
program vp of digital media and entertainment at IDC. "This is a lot of money for a streaming service that has barely 250,000 subscribers. This is a lot of money for a mediocre hardware company. This is a lot of money for buying some ‘cool’ when Apple should be able to create its own."