Amazon offers free music streaming service
The service is available on a number of devices
Taylor Swift sparks private equity debate
Iona College political science professor Jeanne Zaino and Rosecliff Ventures founder Mike Murphy discuss Sen. Elizabeth Warren's comments on private equity firms being responsible for pop-star Taylor Swift's ownership dispute over her songs.
Amazon announced on Monday that top playlists and thousands of stations are now available to stream for free on an ad-supported service.
Continue Reading Below
The news did not go over well with Spotify investors.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
Spotify shares dropped 5 percent on the news. Amazon shares were up nearly 0.5 percent.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AMZN | AMAZON.COM INC. | 3,167.46 | -57.54 | -1.78% |
| SPOT | SPOTIFY TECHNOLOGY | 252.12 | -3.20 | -1.25% |
The announcement was made in an Amazon blog post. Amazon Music customers who don't have a subscription to Amazon Music Unlimited or a Prime Membership can still get free music.
Up until now it was only available on Echo devices but has not been expanded to the most popular devices.
CLICK HERE TO READ MORE ON FOX BUSINESS
Spotify is the world's most popular music service with 140 million users on its free service, according to Reuters.
