(Reuters) - Amazon.com Inc on Tuesday lowered the price of its paid music service to 99 cents (£0.81) per month from $4.99 for students with a Prime subscription.

New and current student members can now subscribe to Amazon Music Unlimited, its premium subscription tier, providing them access to more than 50 million songs, the e-commerce giant said in a statement.

Amazon's Prime Student membership is available at $6.49 per month, a 50% discount to regular price and includes free two-day shipping of online orders along with access to its video streaming platform Prime Video.

Similar plans from Apple Inc music streaming service and rival Spotify offer student subscriptions at $4.99 per month, 50% lower than their regular prices.

(Reporting by Ayanti Bera in Bengaluru; Editing by Shailesh Kuber)

Stocks treated in this article : Apple, Amazon.com, Spotify Technology SA