Google reportedly developing music-streaming service for Q3 launch
Google is looking to bolster its Google Play offering, with the company reported to be in-talks with record labels to license music for a music-streaming service similar to Spotify and RDIO, according to both Financial Times and Bloomberg.
According to Financial Times, which first reported the news, Google's service may give access to "a library of millions of songs", which is thought will put pressure on both Apple and Amazon who have yet to enter the music streaming market.
Mountain View-based Google already offers music available for download through its Google Play store.
Additionally, its Google Music service offers a cloud-locker for users to store the songs they already own. However, the premise of a streaming service is that no music has actually to be purchased, simply streamed at a monthly rate.
Bloomberg says the service will launch in Q3, but for how much, or if it will make its way over to iOS in the form of an application, is still up in-the-air. Google has been ramping up its iOS apps in recent months, so it wouldn't surprise us.
Competitor Apple has long been rumoured to be launching its own music-streaming/Pandora-like radio service. The Cupertino-based company has reportedly been in talks with record labels to roll the service across the iPhone, iPad, Mac and Windows machines.
The music-streaming business service collected revenues of $468m in 2012, according to IFPI. Google might want to beat its competitors to the space.
Google declined to comment.