In brief: Spotify and Apple Music are the two largest streaming outfits in the US but a dark horse competitor - Amazon - is coming on strong. The e-commerce giant has a lot working in its favor including a lower price than its competitors (assuming you have a Prime subscription) and its Echo smart speakers.

Streaming music in the US is viewed by many as a two horse race between Apple Music and Spotify but as highlighted by a recent report from the Financial Times, it’d be foolish to count out the third place competitor.

Amazon Music Unlimited has been making huge strides as of late. According to the report, which cites data from Midia Research, Amazon’s subscriber base grew by 70 percent over the past year, putting Amazon in third place with roughly 32 million subscribers.

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 last year.

Per Thurrott, Midia credits Amazon’s success to its Echo smart speakers, it’s ubiquity with consumers and its price point. Amazon Music Unlimited is only $7.99 per month for Prime subscribers.

Age is also an important metric to consider. Amazon’s user base is older than that of its rivals. Steve Boom, VP of Amazon Music, said they are not battling for the same customers as everyone else. “For the industry to reach its full potential, we can’t just look at 15- to 22-year-olds,” he added.

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