And Now Amazon Is Launching A Music Streaming Service

Amazon will launch its long-rumored music streaming service this summer, music industry sources told BuzzFeed's Reggie Ugwu.

The company will reportedly be making a catalog of music six months and older available free to all of its Prime members. Although it won't have as much music as larger, more focused streaming competitors like Spotify or Pandora, Amazon's service will be just another way for the company to try to entice people to sign up for its $99 Prime service.

Music streaming is becoming increasingly competitive. Apple just bought Beats for $3.2 billion in part because of its subscription music streaming service. iTunes downloads have suffered as people have turned to apps like Pandora to stream music for free. Pandora is on track to have $1 billion in revenues annual. Spotify has perhaps $1.2 billion in revenues.

Amazon has reached agreements with two of the three major labels: Sony Music Entertainment and Warner Music Group.

BuzzFeed reports that the music service will work across multiple devices, let users play songs as many times as they want, and have some offline capabilities.

Disclosure: Jeff Bezos is an investor in Business Insider through his personal investment company Bezos Expeditions.