Amazon Acquires Online Music Store Amie Street

Amazon has acquired music retail start-up Amie Street in an attempt to strengthen its foothold in the online MP3 retail download market.

In a e-mail notification to its customers, Amie Street said that the company was on the verge of being acquired by Amazon and that customers will be redirected to Amazon.com after 22 September, as the website will be shut down.

Amie Street, which was funded by Amazon four years ago, allowed customers to download songs at a price dependant on its popularity. Songs could be free to download when first released, but their price would increase as they become popular.

The company wrote: “The folks at Amazon have been our advisers since they invested in Amie Street almost four years ago, and as a small thank you for your loyalty and support we’re giving you a $5 promotional code to spend at the Amazon MP3 store.”

Amie Street also advised users to download all previously purchased songs before 22 September and spend all remaining credit on their accounts as it won't be carried over by Amazon.