Apple Preparing Beats-Powered Music Streaming Service [REPORT]

Apple is likely working on a Beats-powered streaming service to rival Spotify, according to 9To5Mac's Mark Gurman. Ever since Apple acquired Beats Audio for a whopping $3 billion last year, there have been plenty of speculations about the Cupertino-based tech giant will benefit from hardware and software technologies.

According to a report from 9To5Mac, the streaming service will be available in the form of a standalone app, like Spotify. The music service will be deeply integrated into iOS, iTunes and Apple TV, reports 9To5Mac.

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The report further claims that existing Beats Music accounts will be able to merge with iTunes or Apple ID accounts. The service will be a lot like Beats Music that already have features like Activities, Mixes, Playlists and more. But, of course, this time around, the service will allow you to search for anything within the iTunes/Beats catalog, and users will be able to stream music from their personal catalogs and add songs to their personal libraries.

Apple last year bought Beats Audio Beats Electronics, a supplier of premium headphones and speakers, for a total of $3 billion. The tech giant had said that the co-founders of Beats will join Apple.

As of now, Beats Music has around 250,000 subscribers in the US, while rival service Spotify has over 10 million subscribers worldwide, according to some reports.

Stay tuned to GizBot for more updates!