Apple Close to Signing First Record Label for ‘iStream’ Service

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While Apple’s iTunes Store itself remains to be one of the premier locations to buy and download music, recent streaming startups such as Spotify have begun to make a large impact as mobile devices have become the preeminent way to consume media. Apple has been rumored to counter these startups with a product of its own, creatively dubbed ‘iStream,’ for years; however, according to The Verge, it may about to become a reality:

Apple is expected to sign its first internet radio licensing agreement with a major record label perhaps as soon as next week, multiple sources with knowledge of the talks have told The Verge. Universal Music Group, the largest of the major record companies, has reached the final stages of the negotiations and Warner Music is close behind, the sources said.

If this is true — and The Verge does have an amazing track record — it would be logical to assume that such a service has been in the works for some time, and would likely be shown off at WWDC, potentially as a headlining feature of iOS 7. Would you use an Apple-created streaming service?

[The Verge]

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