Amazon Music grows faster than Spotify and Apple

Amazon Music Unlimited vs Apple Music

The subscription costs also factor into consumer's decision to go with Amazon as they are lower than the competition.

According to a report in the Financial Times that is based on Midia Research data, the Amazon Music Unlimited subscriber base jumped by 70 percent in the past year, landing Amazon in the number three spot in the industry with about 32 million subscribers.

Amazon's premium music streaming service, Amazon Music Unlimited is now growing faster than its rivals, Spotify and Apple Music.

In comparison, Apple Music has around 50 million subscribers and Spotify leads the way with 100 million subscribers after growing its base by 25 percent past year. "People don't pay as much attention to it [as to Apple and Spotify], but it's been hugely effective", he added. Almost 14% of Amazon Music's subscribers are 55 or older. The popularity of Alexa devices has, in a way, contributed to the service's growth. "[Amazon] have gone all in on [music]", an unnamed senior music executive at a major record label told the Financial Times. Throw in Tencent Music (28.4 million paying users for its online-music services at the end of March) and the total grows to more than 221 million from the top four players - with Tencent and Spotify yet to update their figures for the second quarter of 2019. "We see high engagement on their service". While only five percent of Spotify's subscribers are 55 years or older, Amazon Music has 14 percent of their users in this age bracket.

Commenting on the story, Amazon Music VP Steve Boom said, "We're not battling for the same customers as everyone else".

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