Music streaming seems to be geared up to become the next big business for tech companies and app developers, and Apple aren’t letting that bandwagon leave without them. According to reports, Apple may be in talks with a number of major record labels in preparation to release a streaming service to rival popular music platforms such as Spotify and Beats.
Music magazine and news source Billboard has reported that Apple may be the next big player in the streaming game, with statements from three anonymous sources confirming that the company is in the early stages of creating the service. The move would make sense for Apple, considering the fact that music downloads have declined while streaming services like Spotify and Pandora have taken off with users around the world. According to a recent report, streaming services pulled in $1.4 billion in 2013 from premium subscriptions, advertising, and licensing revenues in the US.
Another interesting move for Apple may come in the form of a rumored Android app release. According to Billboard’s sources, the tech giant is giving serious considerations to creating an iTunes Store app for Android, officially launching their products into enemy territory.