Rumors suggesting that Apple may sometime release a music streaming service akin to Spotify or Pandora have been around for a while now. In mid October, both the Wall Street Journal and The New York Times claimed that this service would be launched in early 2013, but a report by CNET this morning states otherwise.
CNET says that this streaming service is still in the works, and that Apple is encountering difficulties in negotiating with record companies.
“At a minimum, a deal with all the majors is nowhere near to being completed. Even if Apple sweetens its offer or the big labels change their mind tomorrow, these deals take a while to put to bed. Even in the best case scenario, it will still be a while before we see iRadio.”
Although music purchases on the iTunes Store are more profitable for artists, it seems that many are moving off to other streaming services, and it is now up to Apple to match them, if not better them. It may be a while until we see this streaming service, but hopefully it will be worth the wait.