The company could be working with large music rights holders to create a high-fidelity music streaming platform, Music Business Worldwide reported Thursday, citing "several high-placed music industry sources." Such a move would help Alexa, Amazon's voice assistant, better compete with companies like Tidal, Deezer, Spotify and Apple Music.
Amazon wasn't immediately available for comment.
MWB's sources said Amazon's high-def service would cost about $15 per month and launch before the end of the year. The price would be cheaper than Tidal's and Deezer's subscriptions, which cost $20 per month. Spotify and Apple don't have high-definition streaming options.
"It's a better bit rate, better than CD quality," an unnamed source told MWB. "Amazon is working on it as we speak: they're currently scoping out how much catalog they can get from everyone and how they'll ingest it."
Originally published April 26 at 10:58 a.m. PT.
Update, at 11:09 a.m. PT: Added more details.