Apple will unveil the new music streaming service rumored to be called iRadio at WWDC 2013 keynote event according to a new report published by The Wall Street Journal.

Apple has been long rumoured to enter the music streaming business, since they acquired an online music company, LaLa in 2010.  iRadio is expected to be a free to use service supported by iAds that will display image ads and stream audio ads. The music streaming service will support options to buy tracks that users wish to download from the iTunes music store.

The service will launch for customers in the US. Details about international rollout remain unclear at this point. Offering a free streaming service as opposed to offering a paid subscription is quite interesting since Apple has always refrained from the ad supported model.

The company has taken quite long to enter the music streaming business even as other services that began by offering apps on the App Store have become hugely popular. Many believe that establishing deals with the record labels was the biggest hurdle in rolling out the service and the company waited until the terms were favorable. Eddy Cue, Apple’s SVP of Internet and Software services, is believed to have played a major role in getting all major record labels. One of the major points of differences in negotiating the deal had been been compensation for songs skipped by users, according to the report.

The highly anticipated new service—expected to be available only in the U.S.—will allow users to stream a radio-like channel of music based on their interests. It will be supported by text and audio ads from Apple’s iAd service, people familiar with the matter said. It will feature “Buy” buttons to drive downloads, they added.

The WSJ also reported on sources confirming the rumors about iOS 7 redesign featuring a new “flat” look. Apple is also looking at introducing new ways to share photos and videos.

The new iOS will also include new ways to share photos and videos with other iPhone users and other enhancements, these people said.

WWDC 2013 keynote event goes live today at 10 AM (Pacific Time) where the Cupertino, Calif. based company will unveil the future of software for iOS and OS X.

On Thursday, CNET reported that Apple is reportedly very close to completing a deal with both Warner Music and Universal Music Group for its rumored iRadio service. Earlier this week, reports suggested that Apple was looking to launch the service as early as this summer, and with new reports of the companies finalizing deals, it appears that the previous rumors may be correct.

With its iRadio service, Apple will reportedly be using a different revenue stream and adding features not seen in other streaming music services such as Spotify and Pandora. Initial reports suggested that negotiations slowed because of Apple’s offering of low royalty which have likely been resolved since then. It is unclear, however, if the record labels settled for a lower rate or if Apple offered a higher rate.

That includes a quick way for consumers to buy a song they hear, potentially boosting download sales from iTunes, as well as a revenue share of new audio ads Apple is planning to add to the free service, according to sources.

The product would be tied to iTunes, and available on mobile devices.

The service, according to sources, most closely resembles Pandora because it doesn’t offer on-demand listening. Apple is building some unique features, such as the ability to jump back to the beginning of a song, according to one person briefed on the company’s plans.

It is possible that Apple would launch the new service at the company’s WWDC conference during the summer. Warner Music and Universal Music Group will be enough for the company to launch the service, however, they will also need to strike a deal with Sony Music Group to get the full library of songs. It is possible for the deals to fall through, with content and royalty rate negotiations still continuing, but with all of these reports, it is all but confirmed that Apple will be launching a streaming music service later this year.

{Via MacRumors}

Rumors about Apple Inc. (NASDAQ:AAPL) launching a music streaming service, similar to Pandora have been around for several months now. However, these reports have become more solid in recent weeks, as more sources begin to back claims that the service may be arriving as early as this summer. According to a report from The Verge, negotiations between AAPL and record companies are moving forward, allowing for the company to begin shaping its new ‘iRadio’ music service.

Much has been written about Apple’s plan to launch a Pandora-esque service this year. Now multiple music industry insiders have told The Verge that significant progress has been made in the talks with two of the top labels: Universal and Warner. One of the sources said “iRadio is coming. There’s no doubt about it anymore.” Apple is pushing hard for a summertime launch.

Earlier in March, Apple was reportedly trying to compete with other services by offering half the royalty rate paid by Pandora. While Apple would normally control all aspects of the service, in this case, they need the record companies to allow them to use music.

If it weren’t for the record companies, Apple could have possibly launched the service much earlier, perhaps even at the end of last year. The two record companies that are reportedly making the most progress with negotiations are Warner and Universal. Apple is expected to launch new iPhone 5S / 6 this summer, so it is possible that both will launch in the same event, especially if the iPhone 5S refresh is incremental and not a major redesign.

{Via MacRumors}