The launch of iTunes in April 2003 certainly didn’t introduce digital downloads to consumers (Napster and countless other illegal download sites were thriving at the time), but it legitimized the distribution method and made it profitable for artists and labels. Now Apple — and a host of other companies — are hoping customers are willing to walk away entirely from physically owning the music in their collection in favor of the cloud.
The already competitive cloud music space has another competitor stepping into the fray. Best Buy today unveiled plans for its own service, letting people access their digital music collection from virtually anywhere.
Nothing has been formally announced yet, but if online reports are to believed (and they’re coming from reputable outlets) Apple has most of its ducks in a row for its long-awaited cloud music service.
Warner Music Group, Sony Music Group and EMI Group have all reportedly gotten onboard with the Cupertino tech giant, though it’s still not certain if the agreements are in principle or if they’ve been signed. The status of a deal with Universal Music Group is unclear.