There have been lot of rumours running of late that Apple have been working music-streaming service called iRadio. The word going around was the service was being delayed due to issues with the negotiations. After several reports regarding this, there is now news that the makers of iPhone have signed contracts with Warner Music & Universal Music Group and will be launching the music service at the WWDC on June 10.Reportedly Apple is also in talks with Sony Music Entertainment
The service is said to stream music based on user's taste similar to the Pandora music service. The service is expected to be free and will fallow advertising mode of revenues. Apple does provide paid music service via iTunes, a nice free service would be a peepy little inclusion to it's revenue building arsenal. It will for sure compete with services such as Google's Spotify, Pandora, Hungama, Gaana, Saavn amongst others.
According to a report from New York Times Apple looks to acquire extensive licensing terms and is directly negotiating with the music groups.