(USA TODAY) -- As competition in the streaming music industry intensifies following Apple's $3 billion purchase of Beats last month another company is throwing its hat into the ring. According to reports by the New York Times and New York Post, Amazon will join the streaming music fray with a new service available free to users of its Prime service.
Sources tell the Post that Amazon's new service will be like a "truncated version of Spotify" with a much smaller catalog than rivals Pandora, Spotify and iTunes and lacking "the most recent chart toppers." According to BuzzFeed, which reported on the service in May, the catalog would be limited to songs and albums that are "6 months old and older."
Amazon is said to have already received support from two of the largest music labels, Sony Music and Warner Music Group, but has yet to reach a licensing deal with Universal Music. Amazon currently offers a digital music store where users can purchase and download the latest tracks and albums.
Amazon offers its Prime service for $99, offering users access to the company's Prime Instant Video movie and television streaming service as well as free 2-day shipping.
The move comes on the cusp of Amazon joining yet another hyper competitive industry. The company is holding an event next week in Seattle where it is expected to introduce a new smartphone with head tracking and gesture controls.