Now, Amazon Is Reportedly Working On A Spotify-Killer

While the details are limited, Sandoval says it sounds like Amazon will have an on-demand service similar to Spotify.

But Spotify — generally considered to be the industry leader — already has its fair share of competitors. There's Rdio and Rhapsody, and both Apple and Google are also reportedly working on their own streaming music services. Apple's would reportedly be more like Pandora, while Google's would be more like Spotify.

Amazon, Apple, and Google already have some infrastructure in place for a streaming music service. Amazon has its Cloud Player, Apple has iTunes, and Google has offered an iTunes-like download service since 2011.

The streaming music business, however, is not one that has not been profitable. Pandora still has yet to reach profitability. And the same goes for Spotify.