Amazon Launches New Benefit for Prime Members amid Slowing Subscription Growth

[{"selector":"#anim-7e4bdc6f-b18b-487b-9921-637eb6692b04","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-2066241a-fb6d-4658-9edb-92ef5f85cbf0","keyframes":{"transform":["translate3d(0px, 172.69429%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Although fast and free shipping is what first draws people to Amazon's Prime subscription programme, it also has a number of additional benefits, and has recently introduced

a new one.In a period of intense competition and slowing growth, Amazon said this week that it is expanding the free tier of its music-streaming service, Amazon Music, to include

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tens of millions of ad-free songs for its customers.According to the tech juggernaut, there are more than 200 million Prime members globally. The U.S. Prime subscription growth

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rate was once close to 20% each year, but Insider Intelligence predicts that it will fall to just 2% by 2025.The slowdown happens while subscription competition is at an

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all-time high.Walmart introduced its membership programme in 2020, offering customers free shipping on tens of thousands of products. According to CNBC, there are currently

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11 million users of Walmart+.Additionally, Walmart has made an effort to sweeten the deal by including a Paramount+ membership earlier this year.Amazon seems to be retaliating

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by enhancing the music offerings for Prime subscribers.Jamil Ghani, vice president of Amazon Prime, told WSJ, "We continue to invest in Prime.""The newest example of

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ongoing investment is music. I want more music was the most frequent response we got from members. So, together with the publishers, we found out how to make that happen in

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the service.""The most recent illustration of ongoing investment is music. I want more music was the most common statement made by members.

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So we found out how to make that happen in the service along with the publishers."

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