The current generation has multiple options to enjoy their favorite music in multiple ways wherever, whenever they want to. Smartphone users are expected to break the mark of 2.5 billion by 2018. Looking at the pace at which smartphone industry is going, the streaming industry has a bright future ahead.
Considering multiple established players like Apple and Spotify already have a strong presence in the market, entry into the market won’t be a cakewalk. Yet Amazon has taken the decisive step that any other company couldn’t have braved it out in the first place. Apparently, it’s a very bold and strategic move from Amazon.
As the music industry is burgeoning at a brisk pace, it has reached a value of $17.3 billion, according to the stats in 2017. While streaming accounted for 38.4% of the total music industry that’s worth around $6.6 billion, Amazon has clearly identified the potential of the market and jumped at the opportunity. Amazon understands that its goodwill is surely going to add value to its business.
Without a doubt, Apple and Spotify are definitely going to face a big challenge from Amazon in order to maintain their market share. If we see the stats more, the user base of streaming services is growing at a constant speed every year and has reached the number of 176 million. While most of the streaming services provide a lot of features in the free version, but customer prefer to pay for ad-free version of the audio streaming app. As Generation Z has a great liking for music and movies, every streaming services provider wants to cash in on this opportunity. This is what interests Amazon more.
Amazon music is available at Google Play Store and App Store for download. Users will have access to tens of millions of songs, from which they can stream music free of charge and download songs on their devices with the prime membership. Not only that, but hands-free listening to music is also possible, thanks to Alexa.