New York, NY, United StatesAmazon and Pandora are reportedly planning to launch new versions of their streaming music services in the next few weeks, the New York Times reported on Sunday. Both companies are reportedly close to finalising deals with record companies and music publishers that will allow them to offer the new services.

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Pandora reportedly plans to launch a full-fledged on-demand platform by Christmas which will compete with rivals such as Spotify and Apple Inc. Possible additions could be skipping more songs or storing several hours of playlists. Prices are expected to double to $10 from the current $5-per-month. The announcement could be made this week, the paper reported.

Amazon, meanwhile, is expected to reveal a platform with a large catalog of music for $10 per month or about half that amount for customers using its Echo voice-activated speakers.

Neither of the companies has confirmed the news so far.

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(WION with inputs from Reuters)