It's now happening as a real deal ... Apple is indeed working on Apple Radio as an Apple Streaming music service. Long theorized and now confirmed by a report from Bloomberg, Apple is looking to wrap up talks/negotiations in mid-November and launch the Apple Radio streaming music service in January 2013.
Bloomberg said: "Apple and major music labels have intensified negotiations to start an advertising-supported Internet radio service by early next year, according to people with knowledge of the talks. Talks are centered in part around how to share ad revenue and a deal could be reached by mid-November, with Apple starting a service within the first three months of 2013, said the people, who asked not to be named because discussions are still in progress. "
The Apple Radio service story originally broke from The Wall Street Journal in September, with their saying that "Apple Inc is in talks to license music for a custom-radio service similar to the popular one operated by Pandora Media." There's was no mention of a release date or a final product at that time, only that Apple was in talks.
Apple is so freaking behind the times in terms of streaming music, but so well positioned to be the 8 million pound gorilla in not only streaming music but streaming video like movies and TV shows. Cannibalize iTunes music store downloads you say? So what! Ownership is possibly a relic of the past, as any streaming music person will tell you. An Apple streaming radio service will be accessible on Apple's ecosystem of iPhone, iPad, iTunes and Apple computers, so it becomes a must-have service if they want to stay relevant.
Apple is also well-positioned to do streaming radio because they already have relationships with all of the recording labels because of iTunes, and the labels all see streaming as the future at this point. Rather than miss the boat (see the entire last decade on that story), they're making a good choice in reacting and adapting to reality.
Look for more news as it happens!