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Here's why Amazon's new music ambitions should scare Apple and Spotify (AMZN, AAPL)

Amazon is readying its own separate music service to compete with Apple Music and Spotify, and “will release more details in the coming weeks,” according to Bloomberg, which cites a person with knowledge of the matter. The streaming plan will reportedly cost around $5 per month and Bloomberg says Amazon will "probably lose money on the monthly fee." That should scare competitors like Apple, Spotify, and Pandora.
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