Apple Announces iTunes Radio

During Apple’s annual Worldwide Developer Conference today (June 10), the technology company revealed iTunes Radio, debuting this fall and built right into iOS apps, iTunes on Mac and PC, and AppleTV.

iTunes Radio will offer music stations preloaded with the entire iTunes catalog (over 26 million tracks). Additionally, the service maintains a personalized ‘wish list’ and pulls the user to the iTunes store for track purchases. The streaming service will be ad-free for iTunes Match subscribers ($24.99 per year), and otherwise free with ads in the U.S.
Apple has been in talks with publishers and recorded music licensors for the service, reportedly settling on financial agreements including rates per stream and portions of advertising revenue. With direct licenses, iTunes Radio bypasses compulsory license restrictions set by the DMCA.
Apple’s Eddy Cue, Sr. VP of Internet Software and Services, gave a demo of iTunes Radio, which can customize stations on request.
“Our goal at Apple is to make really great products that change peoples’ lives,” says Apple CEO Tim Cook.
During the 2013 event, Apple also revealed a new line of MacBook Airs, and a redesigned Mac Pro, along with iCloud updates and software changes including the new operating systems called OS X Mavericks and iOS 7.
Apple’s iTunes music store debuted in 2003 with approximately 200,000 songs and is now the leading U.S. music retailer. Apple’s stock has declined in value since September 2012, when it hit a high of $702.10.

–Jessica Nicholson & Eric Parker