Apple is now in the web radio business, and because of the size of the iTunes membership, the service instantly becomes one of Pandora's top competitors.
Apple unveiled iTunes Radio today at a press event at the company's headquarters in Cupertino. As expected, the radio service will be part of the iOS 7 update and users will be enabled to create their own stations, and easily purchase songs they're hearing. The service is very similar to Pandora and comes with more than 200 features.
The top music recording and publishing companies have eagerly awaited a new competitor to Pandora. The web's top radio service and much of the music industry are at odds over the royalties that Pandora is required to pay. In addition, the hope in the music sector is that Apple's new radio service can breath life into download sales, which have waned as the popularity of ad-supported streaming services has grown.
Much has been made about the future of music belonging to Pandora, Spotify and other streaming services but downloads still generate much fatter profit margins for the industry.
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Apple launches iTunes radio
Tue, 10 Sep 2013 17:19:56 GMT