The new service could challenge Spotify and other music streaming apps. 

Less than a week after debuting a free, ad-supported version of Amazon Music for Alexa, Amazon might be planning its next big thing.

The company could be working with large music rights holders to create a high-fidelity music streaming platform, Music Business Worldwide reported Thursday, citing "several high-placed music industry sources."  Such a move would help Alexa, Amazon's voice assistant, better compete with companies like Tidal, Deezer, Spotify and Apple Music. 

Amazon wasn't immediately available for comment.

MWB's sources said Amazon's high-def service would cost about $15 per month and launch before the end of the year. The price would be cheaper than Tidal's and Deezer's subscriptions, which cost $20 per month. Spotify and Apple don't have high-definition streaming options.

"It's a better bit rate, better than CD quality," an unnamed source told MWB. "Amazon is working on it as we speak: they're currently scoping out how much catalog they can get from everyone and how they'll ingest it."

Originally published April 26 at 10:58 a.m. PT.Update, at 11:09 a.m. PT: Added more details.

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