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Amazon is in talks with several wireless carriers about launching a mobile service for Prime members, according to a report from Bloomberg.

The news sent shares of telecom stocks lower Friday. Verizon fell more than 4% in early trading, while T-Mobile slid over 9%. AT&T‘s stock was down more than 5%. Dish shares surged more than 18%.

The e-retailer is negotiating with Verizon, T-Mobile and Dish about the possibility of reselling their mobile services to its Prime members at low cost or potentially free, Bloomberg reported. The discussions have been going on for six to eight weeks and have also included AT&T, but it could be several more months before a plan materializes, according to the report.

“We are always exploring adding even more benefits for Prime members, but don’t have plans to add wireless at this time,” Amazon spokesperson Bradley Mattinger said in a statement.

Amazon has previously experimented in the mobile category, launching its ill-fated Fire Phone in July 2014 before scrapping it a year later. More recently, it has focused on high-speed internet through its Kuiper program, which aims to build a network of 3,236 satellites in low Earth orbit.

A mobile plan could serve as an attractive hook for Amazon to lure in more Prime subscribers. Launched in 2005, Amazon Prime members pay $139 a year for access to free two-day shipping, access to exclusive movies and TV shows, as well as newer benefits like generic prescription discounts and Grubhub delivery perks.

Amazon has been looking for ways to attract more Prime members as it faces growing competition with Walmart‘s Walmart+ loyalty program, and concerns about slowing membership growth. The company had more than 200 million subscribers worldwide as of April 2021.

By partnering up with a company like Verizon or Dish, Amazon would essentially function as a mobile virtual network operator. Instead of owning its own wireless network, the company would purchase data from a large carrier and resell it to consumers.

Spokespeople for Verizon, T-Mobile, Dish and AT&T weren’t immediately available to comment.

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FTC asks to delay Amazon Prime deceptive practices case, citing staffing shortfalls

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FTC asks to delay Amazon Prime deceptive practices case, citing staffing shortfalls

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The Federal Trade Commission asked a judge in Seattle to delay the start of its trial accusing Amazon of duping consumers into signing up for its Prime program, citing resource constraints.

Attorneys for the FTC made the request during a status hearing on Wednesday before Judge John Chun in the U.S. District Court for the Western District of Washington. Chun had set a Sept. 22 start date for the trial.

Jonathan Cohen, an attorney for the FTC, asked Chun for a two-month continuance on the case due to staffing and budgetary shortfalls.

The FTC’s request comes amid a push by the Trump administration’s Department of Government Efficiency to reduce spending. DOGE, which is led by tech baron Elon Musk, has slashed the federal government’s workforce by more than 62,000 workers in February alone.

“We have lost employees in the agency, in our division and on our case team,” Cohen said.

Chun asked Cohen how the FTC’s situation “will be different in two months” if the agency is “in crisis now, as far as resources.” Cohen responded by saying that he “cannot guarantee if things won’t be even worse.” He pointed to the possibility that the FTC may have to move to another office “unexpectedly,” which could hamper its ability to prepare for the trial.

“But there’s a lot of reason to believe … we may have been through the brunt of it, at least for a little while,” Cohen said.

John Hueston, an attorney for Amazon, disputed Cohen’s request to push back the trial date.

“There has been no showing on this call that the government does not have the resources to proceed to trial with the trial date as presently set,” Hueston said. “What I heard is that they’ve got the whole trial team still intact. Maybe there’s going to be an office move. And by the way, both in government and private sector, I’ve never heard of an office move being more than a few days disruptive.”

The FTC sued Amazon in June 2023, alleging that the online retailer was deceiving millions of customers into signing up for its Prime program and sabotaging their attempts to cancel it. Amazon has denied any wrongdoing, calling the FTC’s claims “wrong on the facts and the law.”

“Amazon tricked and trapped people into recurring subscriptions without their consent, not only frustrating users but also costing them significant money,” former FTC Chair Lina Khan said at the time.

The FTC brought a separate case against Amazon in September 2023 accusing it of wielding an illegal monopoly. The agency alleged that Amazon prevents sellers from offering cheaper prices elsewhere through its anti-discounting measures. That case is set to go to trial in October 2026.

In the time since the FTC filed its cases, Khan has been replaced as the head of the FTC by Trump appointee Andrew Ferguson. Tech companies, which are the target of several regulatory agencies, have sought to curry favor with Trump, including Amazon founder and executive chairman Jeff Bezos. He attended President Donald Trump’s inauguration in January, and Amazon was among several tech companies to donate $1 million to Trump’s inauguration committee.

WATCH: Trump FTC Chair tells CEOs it will crack down on conduct or mergers that hurt Americans

Trump FTC Chair tells CEOs it will go after companies if it thinks conduct or mergers hurt Americans

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Tesla bounces for second day after steepest drop since 2020

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Tesla bounces for second day after steepest drop since 2020

Tesla CEO Elon Musk looks on as U.S. President Donald Trump speaks to the press as they stand next to a Tesla vehicle on the South Portico of the White House in Washington, D.C., on March 11, 2025.

Mandel Ngan | AFP | Getty Images

Tesla shares rose for a second straight day in early trading Wednesday after the stock recorded its worst day since 2020 earlier in the week.

Shares were last up 8%, building on a 3.8% gain from Tuesday.

The electric vehicle stock plunged 15.4% on Monday for its worst session since September 2020 as investors sold popular technology shares and markets tumbled on rising recession fears and tariff uncertainty. The move pushed the Nasdaq to its worst day since 2022 and erased $750 billion in market value among the tech megacaps.

Tesla has tumbled in recent weeks, shedding more than 40% in market value since President Donald Trump took office. Shares rallied in the postelection Trump trade on bets that CEO Elon Musk’s close ties to the president would benefit the company.

Tariff concerns have added fuel to that fire as a potential trade war threatens two key supplier markets. That pushed the company to its longest weekly losing streak in its 15-year public market history.

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Since Trump’s inauguration, Musk has become a key face of the new White House administration and close advisor of the president as he looks to reduce government spending, leading the so-called Department of Government Efficiency.

Trump said Tuesday he plans to buy a Tesla in support of Musk as Tesla locations around the country see protests and demonstrations.

Tesla has also dealt with brand erosion stemming from incendiary political rhetoric on Musk’s social media platform X. The platform suffered several outages on Monday. Meanwhile, Musk’s aerospace and defense company SpaceX is currently investigating two test flight explosions.

The company also faces a divided Wall Street, as bears point to rising EV competition, declining new vehicle deliveries and the effects of tariffs on the company’s near-term business. Bulls still have faith in Musk and his promise to unveil an affordable new model EV and start a driverless ride-hailing service later this year.

A recent investor survey found that 85% of respondents believed politics are hurting the company. Shares have lost more than a third in value since the start of the year.

— CNBC’s Lora Kolodny contributed reporting.

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Spotify says it paid nearly 1,500 artists $1 million or more in royalties for 2024 streams

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Spotify says it paid nearly 1,500 artists  million or more in royalties for 2024 streams

In this photo illustration, the Spotify music app is seen on a phone on June 04, 2024 in New York City.

Michael M. Santiago | Getty Images

Spotify is minting music millionaires.

Nearly 1,500 artists generated over $1 million in royalties from Spotify in 2024, the company said Wednesday in its annual Loud and Clear Report.

Spotify said more than 80% of the artists in that pool didn’t have a song reach the app’s Global Daily Top 50 chart.

“Spotify has helped level the playing field for artists at every stage of their careers,” read a portion of the report. “Success in the streaming era doesn’t require a decade-spanning catalog nor a chart-topping hit.”

The news comes about a month after the company reported a fourth-quarter earnings beat that saw the Swedish music streamer record its first full year of profitability. The company said it paid an all-time high of $10 billion in royalties to the music industry for the year.

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