Apple is set to unveil its own music streaming service, to tackle the likes of Spotify, later today from its World Wide Developer Conference.

According to Sony Music CEO Doug Morris, Apple's announcement will come later today. This will be the first music streaming service from Apple, revealed almost a year after it bought Beats Music for $3 billion.

Bloomberg has previously reported that Apple will retool and re-launch Beats Music at WWDC this year.

The new Apple music streaming service is expected to cost $10 per month for individuals or $15 for a family plan. There is reportedly no ad-supported option available to allow for free music listening.

Sony Music CEO Doug Morris said he thinks Apple's step into music streaming will be the "tipping point" that returns the music industry to major profits. He points out that Spotify avoids adverts but still doesn't really make that much money. Apple, he thinks, will use ads to push revenues higher. Adverts on top of paying for a service - is that something you'd be prepared to pay for?

Apple, as of Friday, had reportedly not signed deals with Sony Music, Universal Music or Warner Music. But it is still expected to make the announcement at WWDC today from 6pm BST.

READ: WWDC 2015: 9 things to expect from Apple