Industry executives have cautiously welcomed the launch of major new ad-funded streaming services for smart speakers – but stressed that they should not “devalue” music.

Both Amazon Music and YouTube Music have moved into the freemium model with limited versions of their subscription services. YouTube Music’s ad-funded platform launched in the UK and 15 other territories, while Amazon’s is currently only available in the US.

The industry has seen sustained revenue growth from premium platforms, but the latest developments open ...