Amazon (AMZN) Also Sees Downside on Google (GOOG) Music News (P)
Tweet
Share
E-mailGet Alerts AMZN Hot Sheet
Join SI Premium – FREE
Moving lower today on Google's (Nasdaq: GOOG) announcement of a new subscription music service isn't Pandora (Nasdaq: P); Amazon.com (Nasdaq: AMZN) actually saw some downside on the announcement today.
Amazon has been moving to make cloud-stored music a bigger part of what it does. When a user buys a music album from Amazon, they'll also have access to it in Amazon's cloud via its recently-introduced AutoRip service.
Additionally, reports in March had Amazon moving to start its own streaming music service, though nothing much has been reported since.
Google's music service is expected to be more like Spotify, offering on-demand content which is able to be steamed to PCs and mobile devices. The service will cost $9.99 per month, just about in-line with Spotify.
Shares of Amazon are down 0.5 percent.
Amazon has been moving to make cloud-stored music a bigger part of what it does. When a user buys a music album from Amazon, they'll also have access to it in Amazon's cloud via its recently-introduced AutoRip service.
Additionally, reports in March had Amazon moving to start its own streaming music service, though nothing much has been reported since.
Google's music service is expected to be more like Spotify, offering on-demand content which is able to be steamed to PCs and mobile devices. The service will cost $9.99 per month, just about in-line with Spotify.
Shares of Amazon are down 0.5 percent.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Rosenblatt Starts Amazon.com (AMZN) at Buy
- This stock is Wall Street's favorite retailer
- China tech giant’s AI bet faces test as cloud growth accelerates
Create E-mail Alert Related Categories
Insiders' BlogSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
