Amazon’s music service is actually growing more quickly than Spotify

Amazon’s music service is actually growing more quickly than Spotify

Amazon Music Unlimited is also less expensive than its rivals-$10 vs. $15 per month-and that price falls even further, to $8, for those with an Amazon Prime membership.

New data from Midia Research shows that Amazon's Music Unlimited streaming service actually grew by more than 70% in the past year, though it's not clear if that includes free, trial subscriptions in addition to paid users.

The streaming service has only been around since 2016, and while many see them as another Spotify clone, the service has seen huge growth over their competition.

Streaming music in the U.S. is viewed by many as a two horse race between Apple Music and Spotify but as highlighted by a recent report from the Financial Times, it'd be foolish to count out the third place competitor.

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Instead of targeting younger demographics who have already become loyal to either Spotify or Apple Music, they're headed for an older market. And it's not resting on its laurels, now offering four months for 0.99p ahead of Amazon Prime Day.

"Amazon is the dark horse [in music]", said Mark Mulligan, an analyst at Midia Research.

In comparison, Apple Music has around 50 million subscribers and Spotify leads the way with 100 million subscribers after growing its base by 25 percent past year.

Streaming has brought a new lease of life to the music industry. You have to say "Play David Bowie's "Heroes" on Spotify" to get a different result. But Amazon could surpass Apple Music if the current growth rates hold. While only five percent of Spotify's subscribers are 55 years or older, Amazon Music has 14 percent of their users in this age bracket. Integration with Amazon's Alexa speakers has also been a big boon for the service.

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