Amazon gears up for launch of new music streaming service

Billy Bambrough
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Amazon's founder and chief executive Jeff Bezos has focused on growing in the businesses in to different areas (Source: Getty)

​Amazon could be set to launch its music streaming service as soon as next month.

Amazon is thought to be locked in talks with the world’s largest record labels since the news of its coming service was first reported earlier this month.

The negotiations are now nearing their end, the Financial Times reports.

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The already crowded market features the likes of first mover Spotify, iPhone maker Apple, musician backed Tidal and Google’s Play all offering subscriptions for $9.99 a month.

The market is currently dominated by Spotify and Apple with 30m and 15m paying customers, respectively.

It was previously reported by tech news site Recode that Amazon was working on a music service that would work the same way as others on the market, costing customers $10 a month for unlimited streaming.

Read more: Tesco's same-day click and collect battle with Amazon

The world's largest retail is thought to be plotting to launch a separate cheaper service however, costing as little as $4 per month and only available through Amazon's Echo speaker.

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