Amazon Music is the fastest-growing music streaming service globally, according to a Billboard citing a new report published in the Financial Times.
Sources with knowledge of the metrics told FT the company's premium streaming service, Amazon Music Unlimited, grew 70% over the past year, a faster rate than that of rivals like Spotify and Apple Music. By comparison, Spotify’s premium worldwide paid subscriber base grew to 100 million through the end of March 2019 (representing growth of 32% year-over-year), while Apple Music’s grew from 40 million to 60 million between April 2018 and June 2019 (representing 50% growth).
The Financial Times report states that as of April 2019, Amazon boasted more than 32 million subscribers worldwide across all of its music services, which include Prime Music (included with every Amazon Prime subscription) and the more-expansive Prime Music Unlimited (which costs $7.99/month for Prime members and $9.99/month for non-Prime members). The Music Unlimited tier also includes the low-cost Echo Plan, which costs $4.99/month to stream on a single Echo device or Fire TV, as well as a discount Unlimited plan for college students, also priced at $4.99 monthly.
The caveat here is whether Prime Music members -- who are automatically subscribed upon signing up for a regular Prime membership -- can really be counted as subscribers given that they don’t opt in to Prime Music specifically. A MusicWatch report released last September, for example, did not include Prime Music members in its overall tally of paid music streaming subscribers in the U.S.
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