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Amazon offers free music streaming service; rival Spotify slips

Credit: REUTERS/FRANCIS MASCARENHAS

Amazon.com Inc said on Monday it has introduced an ad-supported free version of its music streaming service "Amazon Music".

Nov 18 (Reuters) - Amazon.com Inc AMZN.O said on Monday it has introduced an ad-supported free version of its music streaming service "Amazon Music".

Amazon offers paid plans for its music service starting at $9.99 per month. It is also part of its prime bundle. The company launched free version of its music service for Alexa users on Echo devices in September.

Rival Spotify Technologies SPOT.N also offers a "freemium" model that includes a free ad-supported version along with a paid ad-free version at $9.99 per month.

Amazon shares were up nearly 0.5%, while those of of rival Spotify Technologies SPOT.N fell about 5%.

(Reporting by Amal S in Bengaluru; Editing by Arun Koyyur)

((Amal.S@thomsonreuters.com; within U.S.+1 646 223 8780; outside U.S. +91 80 6749 0536;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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