Amazon Has Built a Formidable Spotify Competitor

Amazon (NASDAQ: AMZN) has quietly built an extremely popular audio platform in the United States. Amazon Music will overtake Sirius XM's Pandora Radio in total listeners next year, reaching 52.5 million listeners, according to an estimate from eMarketer. Amazon still trails Spotify (NYSE: SPOT) by a wide margin, and it may never close that gap.