Amazon.com Inc. (AMZN) Seeks Sweet Music With AutoRip

Page 1 of 2

Amazon.com Inc. (NASDAQ:AMZN) has been very active in the news since the calendar changed into 2013. We’ve covered some of those items here. And here. And here. There seems to be some positive momentum building for the company after a reported strong holiday season, which would be sweet music to investors like billionaire Jim Chanos of Kynikos.

But now, today’s news adds to that sweet music … digitally, of course.

Amazon.com, Inc. (NASDAQ:AMZN)

Amazon.com Inc. (NASDAQ:AMZN) announced a new music service called AutoRip, which is likely designed to serve as a direct competitor to the immensely popular iTunes by Apple Inc. (NASDAQ:AAPL). The goal of this new service, says Amazon, is to increase usage of its Cloud Player service and perhsp drive up music sales to take some market share away from the iTunes store.

The concept of AutoRip is to provide a digital download of a CD that users buy or have bought through Amazon.com Inc. (NASDAQ:AMZN) over the last 15 years. There are about 50,000 CDs that currently have digital versions available on Amazon – considered the most popular purchases on the site – and those digital CDs will be added to a user’s Cloud Player library for playing anytime.

“When we picked those 50,000 titles we focused on having a substantial majority of our physical CD sales covered,” said Steve Boom, head of digital music for Amazon.com. Among those titles that have free digital downloads are “Dark Side of the Moon” by Pink Floyd, “Thriller” by Michael Jackson and “Overexposed” by Maroon 5. “People will be exposed to Cloud Player and our digital music offering, which is a good thing,” Boom said. “We want to take this global.”

It is estimated that Amazon.com Inc. (NASDAQ:AMZN) owns about 15 percent of the digital music market since opening in 2007, but the Apple Inc. (NASDAQ:AAPL) iTunes store has more than 50 percent of the market.  While 15 percent is nothing to sneeze at when it comes to a growing market,  should Amazon just be working to maintain that level as the market grows?

Page 1 of 2
blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

10 Cities with High Demand for Nurses

6 of the Worst Greeting Card Messages Ever Crafted

6 Ways to Make Money in ArcheAge and Build Your Empire

10 Foods To Eat To Lower Cholesterol Levels

The 10 Most Hated Television Characters of All Time

The 30 Worst Halloween Costume Ideas Ever Brought to Horrible Life

10 Vocational Skills in Demand Today with Jobs Waiting to be Filled

10 Best Places to Visit in Central and South America

The 10 Greatest Empires in History Which Nearly Conquered the World

The 6 Cheapest Boarding Schools In America 2015

5 Clear Reasons LoL is Better than DotA, Continues to Rule MOBAs

The Only 9 Teams with a Chance to Win the Super Bowl

The 15 Most Common Phobias in America that Induce Fits of Panic

Top 6 Least Expensive Tourist Destinations in 2014

Jim Goetz, Peter Fenton, Jim Breyer: Top 6 Venture Investors for 2014

Top 15 Billionaires in 2014

5 Pitfalls To Avoid When Buying a Franchise

Top 20 Medical Schools in the US – 2014 Rankings

4 Business Strategies that Turned Jamie Oliver into the World’s Richest Chef

6 Qualities That Make You A Good Team Player

10 High Paying Seasonal Jobs in America this Holiday Season

The 10 Busiest Shipping Lanes in the World

5 Most Valuable Brands in China

The 10 States with Highest Substance Abuse Rates Crippling Their Populace

The Top 10 Things to Do Before You Die That Will Echo for Eternity

The 10 Best Selling Items on Etsy

Top 10 Things to Do in Tokyo, the Greatest City in the World

10 Mistakes on Social Media that Can Harm You and Will Probably Get You Canned

The 10 Best Cities to Find Jobs in 2014

The 10 Most Controversial Songs Of All Time to Hit (and get Banned from) the Airwaves

The 20 Biggest IPOs in US History

The 10 Best Places to Visit in Mexico that Are Beautiful and Safe

7 Bad Habits that Age You Beyond Your Years

The 40 Best Fortune Cookie Sayings That Will Leave You Bemused, Befuddled, or Beguiled

10 Foods to Eat Before a Workout to Make Every Drop of Sweat Count

The 5 Best Documentaries On Netflix You Must See

The Most Heartwarming and Inspirational Story Of This Halloween Season, It Will Make You Cry and Jump For Joy

10 Best Party Songs of All Time to Bring the House Down With

5 New World Order Conspiracy Theories that Will Strangle the World

The 10 Highest Rated Movies of 2014

The 10 Largest Container Shipping Companies in the World

The 10 Largest Armies in the World: Who Should We Be Afraid Of?

Best Warren Buffett Quotes on Money You Need to Hear

The 10 Highest Suicide Rates by Profession

The 20 Most Underrated Movies of All Time

The 10 Fastest Growing Companies in America

The 10 Biggest Outlet Malls in USA

The 5 Most Popular Rap Songs of All Time

The 10 Countries that Eat the Most Meat

The10 Most Expensive Countries to Fly To

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!