) recently announced that its Amazon Cloud Player app for
) devices such as iPad and the iPad mini is available in the
Apple App Store.
The app will allow iPad users to download music, which is
already stored in the Cloud Player. Amazon launched the Cloud
Player app for iPhone and iPod touch last year and is now
extending the service to Apple's most popular device, iPad. Thus,
it is a smart move from Amazon making its cloud player available
on a larger number of devices.
The app can be downloaded on the iPad from the App Store for
free. As many as 250 imported songs can be stored on the player
for free. Music lovers with a large collection can store up to
250,000 imported songs for an annual fee of $24.99.
Amazon's Cloud Player is a web storage application, which
allows people to listen to music from any computer or Android
device with Internet access. It allows streaming on devices such
as Kindle Fire, iPhone, iPod Touch, Mac and PCs. Amazon does not
share the exact numbers, but the Cloud Player has apparently
roped in millions of users since its launch in early 2011.
Amazon has been offering its Cloud Player on Sonos home
entertainment systems, Roku streaming players and Samsung smart
TVs. Further, it has extended its reach to Apple's smart devices
as well as to a few
Thus, Amazon's strategy of widening its reach is quite smart.
It is hoping to add more users to the Amazon cloud and drive the
sale of Amazon's other digital goods. Therefore, while iTunes
still leads in the segment, Amazon's tactics could help the
company gain larger market share.
Despite being the pioneer of facilitating music storage on the
Internet for access on any device, Amazon's Cloud Player is still
far behind Apple's iTunes. New rivals like
) as well as streaming services such as Spotify, Deezer and Rdio
have also entered the market.
In the fourth quarter of fiscal 2012, Amazon reported revenues
of $21.3 billion, up 54.0% sequentially and 22.0% from the
year-ago quarter. This was within the guidance of $20.3-22.8
billion (up 55.7% sequentially, or up 23.3% year over year at the
mid-point), although short of our expectations. Year-over-year
revenue growth was 23% excluding unfavorable currency impact.
Amazon is one of the leading players in the extremely
fast-growing retail ecommerce market. While the strong growth
prospects are making the market more competitive by the day,
Amazon continues to maintain and even grow its share on the back
of its consistent and reliable service. Amazon's scale of
offerings, its broad reach and platform approach are the keys to
Amazon has a Zacks Rank #3 (Hold).
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