Apple is gearing up to stream music online for $10 a month, a service that will rival Spotify, it is rumored.
Apparently, the cloud-hosted jukebox will be separate from the iTunes Store, and will be revealed at Apple's Worldwide Developer Conference (WWDC) – which kicks off on June 8 in San Francisco. Apple is expected to showcase new versions of iOS and OS X at the get-together.
The rumored service, the The Wall Street Journal claims, will not stream the entire catalog of music in the iTunes Store; instead, it'll offer just a sample of Cupertino's audio library.
It is believed a branded Apple music service has been in the works ever since the Cupertino giant ponied up $3bn to acquire Beats last year. Though the Beats headphone brand has been featured prominently in Apple stores, the streaming music service has been widely believed to be the main target of the acquisition.
Apple did not respond to a request for comment on the report.
Business in the streaming music market has picked up of late, as rap mogul Jay Zed dropped $56m of his fortune to set up a streaming media service. Existing competitors in the market include Spotify, Pandora and the Beats Music service. ®