Apple Rumored To Launch $25/Year iCloud Music Subscription Service

Rumors are flying left and right about what tomorrow's WWDC keynote will reveal, but one thing is for sure: iCloud will be a major announcement. Google Music may have beaten Apple to the punch, but according to the latest reports over at The Los Angeles Times, Apple will have one thing that Google doesn't. That would be the support of major record labels. Apple's market power has skyrocketed over the years, and labels are now in a position that leaves them little option but to side with a company like this. Otherwise, piracy continues and people still refuse to pay for music; with iCloud, it's possible that people will pay for a monthly subscription, giving labels at least something in return.

The music industry has not only changed over the past ten years, but it has been up-ended. Apple's iCloud will reportedly be offered free of charge at first, eventually charging $25/year. Advertising would also be included, which makes sense given the already-low subscription rate. The profits would be split up between Apple, the publishers and the labels, and reports suggest that EMI, Universal, Sony and possibly others could be signed on. iTunes already dominates the music industry, but if this proves to be rooted in fact, it could very well take the crown by a mile.

We'll obviously find out if this turns out to be true tomorrow; if it is, will you be buying in? Or are you still using Rhapsody or some other streaming service?
Tags:  Apple, music, WWDC, iCloud