Amazon offers free music streaming service
The service is available on a number of devices
Amazon announced on Monday that top playlists and thousands of stations are now available to stream for free on an ad-supported service.
The news did not go over well with Spotify investors.
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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. | 3,376.07 | +55.70 | +1.68% |
| SPOT | SPOTIFY TECHNOLOGY SA | 252.20 | -5.69 | -2.21% |
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.
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Spotify is the world's most popular music service with 140 million users on its free service, according to Reuters.
