Amazon: Amazon Music has more than 55 million paid subscribers to its music streaming service

Amazon Music continues to make money from Apple Music and Spotify, according tomedia reports, and currently ranks third in the streaming music competition, with more than 55 million paid subscribers. Amazon Music has more than 55 million users worldwide, the company announced. Streaming subscribers are reported to have grown at an annual rate of 50 per cent in the US, UK, Germany and Japan, doubling in France, Italy, Spain and Mexico.

Amazon: Amazon Music has more than 55 million paid subscribers to its music streaming service

In addition, Amazon has launched Amazon Music HD, a service designed to deliver high-quality audio through streaming media platforms. The service is only a little more expensive than other streaming platforms — $12 a month.

Amazon’s growth is largely due to low-cost Alexa products such as echo Dot, and Amazon Music Unlimited and Amazon Music HD have a 30-day free trial.

Apple Music has also grown significantly since its launch, with Eddie Coy telling the media that apple Music had 60 million paying subscribers by June 2019.

Both services, however, lag far behind Spotify, which now has an estimated 113 m paid subscribers, although both Apple and Amazon seem to be looking to close the gap.