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Amazon reportedly preparing music streaming service at $9.99/month

Amazon is ready to rival Spotify, but it needs the music catalog to do so.

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(Image: CBS Interactive)

Amazon is preparing to launch a music streaming service to rival Spotify and Apple Music, according to Reuters.

The music service is said to launch in late summer or early fall and be offered at $9.99 per month -- priced similar to rivals.

It would expand on the limited music streaming catalog offered to Prime customers and create more marketing buzz for Amazon's Echo platform, a line of home speakers that use the Alexa voice assistant for easy access to information.

Reuters reports Amazon is currently in talks with music labels. To be competitive with Spotify and Apple Music, Amazon needs a larger catalog of songs than currently offered on Prime Music.

Prime is priced at $99 per year or $10.99 per month, offering free two day shipping on top of Prime Video. Amazon made a similar monthly subscription service available to Prime Video customers at $8.99 per month, cheaper than rival Netflix.