Amazon.com Inc executives seem to believe that there is space left in the streaming music markt, and hace decided to launch a standalone music streaming subscription service. According to Reuters' unnamed sources, the service will be offered at $9.99 per month, in line with major rivals, such as Apple Music and Spotify.

Amazon is currently finalizing licenses with labels for the service, which likely will be launched in late summer or early fall, the report added.

Amazon already offers a free streaming music service with a limited catalog to subscribers of its Prime shipping, along with a video service.

The new music service could be intended to increase the appeal of the Amazon Echo, Amazon's home speaker, which searches the Internet and orders products from the retailer with voice commands.

Released broadly last year, the Echo has become a hit that rival Google is now seeking to emulate with a speaker of its own.