Amazon Adds Spotify Support To Echo: Pandora Down, Amazon Still Hurting
Pandora Media Inc (NYSE: P) shares were trending down Thursday morning, potentially reeling from news that Amazon.com, Inc. (NASDAQ: AMZN) had partnered with Spotify to stream music through Amazon's Echo home media hub.
While Spotify is not new to Amazon products – the Amazon Fire TV and Kindle Fire support the streaming service – the addition of Spotify to Echo sees the company renewing its commitment to offering a complete Amazon-branded media ecosystem, even if it means co-opting other companies' services to do so.
The Echo is a combination voice-controlled media center and Bluetooth speaker that plays music and podcasts and reads e-books; the Echo already included Pandora support.
Pandora investors may have been scared by the announcement, with Pandora shares down 1 percent at market open. Amazon's investors were still skittish after the company reported an earnings miss last week. Shares were down about 1 percent Thursday morning.
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