The CNET report notes a recent rumor claiming Apple may charge $20 a year for the service, but they couldn’t confirm with sources whether this figure was accurate. A similar service from Google is also expected to come with an annual fee.

Apple’s cloud-based music service will allow users to store their music and videos in a digital ‘locker’, enabling them to stream the content to internet connected devices, such as the iPhone and iPad – negating the need for content to be stored locally on the device taking up valuable storage space.

The service was expected to come as part of a MobileMe revamp, which would provide users with certain aspects of cloud storage as part of their subscription – just like iDisk. However, it’s now unclear whether the two services will be separate entities, or whether the annual fee could also incorporate the MobileMe subscription.

While Apple has informed music executives that work on the service is now “complete,” it has apparently only provided a broad description on how the service will work, keeping the specifics under wraps.

Meanwhile, Amazon recently rolled out its own cloud-based digital storage service called Cloud Drive. The product offers 5GB of storage for free and then tiered subscriptions that allow storage up to 1TB.

It’s long been rumored, but TheMusicVoid is claiming that Apple is once again trying to push MobileMe into the music world, with a new ‘Locker’ feature being its crowning glory.

It’s believed Apple is pressuring music labels into agreeing to allow users to store their own music on Apple’s servers, enabling playback anywhere via streaming. TheMusicVoid says Universal Music and EMI are basically a done-deal, where Sony is believed to be less keen on the idea.

These same sources tell me that although Universal Music and EMI are more or less pushovers, Apple may actually get some pushback from Sony. Sony Corporate has declared sensou on Apple and could hold out just to mess with them. However, considering the backbone of the typical record label executive when it comes to tampering in any way with about 70% of their digital revenue, don’t expect any profiles in courage.

The expected price-tag for this new ‘Locker’ is $20, with MobileMe itself possibly becoming a free service. Perhaps email and basic syncing would be free with music syncing and other premium features for a fee.

With Steve Jobs arguably being both the music industry’s saviour and destroyer at the same time it will be interesting to see how the music world as a whole takes to the idea of storing tracks online for streaming playback.

Is it really any different to Spotify or Rdio though? Maybe, maybe not.