(AMZN) May Launch $5/Month Music Streaming Service on Echo Hardware

August 23, 2016 6:49 AM EDT

Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here. (Nasdaq: AMZN) is said to be working on a music subscription service which would rival offerings from Apple (Nasdaq: AAPL), Spotify, and others, according to Re/code.

Amazon may charge $5 per month for unlimited music streaming, but it would only be available via the company's Echo hardware. The company would also launch another streaming services for around $10 per month, which would work on other devices.

Speculation has Amazon launching both services in September.

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