Amazon Innovations

Amazon’s Echo-Based Music Streaming Service May Be Coming Soon

Another day, another batch of Amazon-related rumors are a-swirling — this time, about the possibility of it making a more aggressive entry into the race for music streaming dominance.

Amazon is not entirely a novice in this field. It has offered a very basic streaming music service for a few years now, but it looks like the whole operation could be facing a makeover or upgrade.

Designed around Amazon’s devices specifically, the Echo-based Amazon streaming service could be coming soon to a branded speaker near you, according to reports in The Verge.

That, however, may merely be a baby step on the way to a fully designed Spotify/Apple Music competitor that will not be handcuffed to the Echo device. The Echo-only service will reportedly cost $5 a month, while the more expensive $10 per month option would work across any device.

Very early reports also indicated that the new service will be named Amazon Music Unlimited. That thrilling name was found by eagle-eyed journalists who noted an Amazon Music Unlimited banner and ad inside the Amazon music app on the Fire TV.

As for the remaining large — and unanswered — question: What will Amazon do with a streaming service that is an improvement that the service’s reigning champ, Spotify, and up-and-comer Apple aren’t also offering? The Echo device is a start perhaps, but thus far, the shape of the actual competition here remains a bit hazy.

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New PYMNTS Report: Preventing Financial Crimes Playbook – July 2020 

Call it the great tug-of-war. Fraudsters are teaming up to form elaborate rings that work in sync to launch account takeovers. Chris Tremont, EVP at Radius Bank, tells PYMNTS that financial institutions (FIs) can beat such highly organized fraudsters at their own game. In the July 2020 Preventing Financial Crimes Playbook, Tremont lays out how.

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