Here Comes Apple's Streaming Service

It's been predicted for years, but it looks like Apple is finally entering the realm of streaming music. Reports from The Wall Street Journal now indicate that the computer and music giant has been in talks with the major labels to create a custom service similar to Pandora's that would create virtual music streams based on a listener's song or artist choices. The report also states that the new service would not be available on Android devices, which is Apple's way of maintaining a strong grip on its online music market share.

There's already competition in this space, since iHeartRadio and Spotify besides Pandora offer an algorithm that make custom song choices. Rumor has it that Apple's service will be different in that it will offer a lot greater interactivity than any of the other services however, and their license fee to the labels will be larger as a result.

That said, you can see the shakeout coming already. Pandora's stock fell 17% on Friday, and you'll see a giant change overnight not only in that part of the industry, but online music in general if Apple's service comes to pass.

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