Here's how Amazon's new music service stacks up against its rivals

Amazon launched its own standalone music streaming service called "Amazon Music Unlimited" on Wednesday, joining the already crowded market that includes big players like Spotify, Apple Music, and Pandora.

In case you're confused by all the different services and how they stack up against each other, Bank of America has come up with a chart that makes it easy to compare them.

Amazon and Pandora have the most economical plans, but Google and Tidal seem to offer the highest number of songs. All 6 services have their own special features, so you may want to choose accordingly.

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Here's the chart:

Bank of America

It's unclear how Amazon's new music plan will change the broader landscape, but it may not be a zero-sum game as this chart by Cowen & Co. suggests. A big chunk of Amazon Prime users, who already had access to a music streaming service (albeit with less song selection), are paying customers of other music streaming services.

Cowen & Co.

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