iRadio Could be the Next Apple Success, All Major Music Labels Join the Fray

Apple's Tim Cook is tasked with finding the next big money maker, and for a time, it looked like an Apple brand television or smart watch might be the company's golden ticket. Not anymore. Forget about those products, because if all goes to plan, streaming music will be the thing that keeps the money flowing through Cupertino like a river after a torrential downpour.

Earlier in the week, it was being reported that Apple inked a deal with Warner Music Group that would give the company a 10 percent stake of its upcoming streaming radio service, which we'll go ahead and call iRadio from here on out. Prior to that, Apple had struck a deal with Universal Music Group, leaving Sony as the odd man out among the major music labels.

Apple iPod Dance

According to AllThingsD, that's no longer the case, as Sony has signed on to complete the trio. With agreements from the big three music labels, Apple can focus its attention on its upcoming iRadio service in earnest, though it's unlikely the service will launch at WWDC. There's still things that need to be done before iRadio can go live.

Even though it's not yet ready for prime time, it presumably soon will be, and that's bad news for competing services like Pandora and Spotify. Apple has a knack for taking an existing product or service, putting its own spin on things, and then watching as frenzied consumers flock to the fold.

Though details have yet to be revealed, it's believed iRadio will offer free access to streaming music with paid subscriber options that introduce additional benefits. It will be interesting to see what twists Apple introduces to its service that isn't available through its competitors.