It has been reported that Apple and Twitter are both set to launch music streaming services, to rival the likes of Spotify and Pandora.
Apple is creating a streaming service, initially for US customers, and is already close to securing license deals with Universal Music and Warner Music. The tech giant is also supposedly in negotiation with a third music label, Sony Music, however discussions have been described as ‘less advanced’.
Speculation suggests that the service, possibly named iRadio, will be launched later this year. That would secure Apple’s position in the digital music space, where its iTunes Music Store – which is ten years old this month – already makes it the biggest music retailer in the world.
Music streaming is a fast-growing space, where the number of subscribers grew by 44 percent in 2012 to 20 million.
Meanwhile, word on the grapevine is that Twitter will be launching its own website optimised for music. The launch is expected to happen at this weekends Coachella music festival.
Twitter Music, which is being teased with a holding page, is thought to offer users a version of Twitter optimised for music streaming, including enhanced player tools supporting Soundcloud and iTunes, rich follower tools for favourite bands, suggestions and trends, and a recommendation service between friends.
Will Twitter and Apple rival the likes of Spotify and Pandora in the online music streaming arena?
The service has been built by the We Are Hunted team, an Australian music discovery and sharing tool discreetly acquired by Twitter this year. The deal was only announced yesterday with a statement on the We Are Hunted site, which said, “While we are shutting down wearehunted.com, we will continue to create services that will delight you, as part of the Twitter team.
“There's no question that Twitter and music go well together. Artists turn to Twitter first to connect with fans, and people share and discover new songs and albums every day. We can't wait to share what we've been working on at Twitter... you will hear more from us.”
Apple and Twitter have not yet commented on the developments, however what remains to be seen is the impact these two services will have on the existing industry when they launch.