Apple and Beats Announce Streaming Service

Apple and Beats Announce Streaming Service
Last year, Apple bought out Dr. Dre's Beats Music company in a $3 billion deal. Since then, the future of the Beats Music streaming service has been unclear. Now, the merged companies have announced plans to relaunch the service entirely.

A new report from the New York Times explains that Apple is planning to relaunch the Beats service in an effort to take on streaming giants like Spotify and Rdio.

Among the services will be a fancy new version of iTunes Radio that may include exclusive album streams. This is the project that former BBC Radio DJ Zane Lowe will head up. 

After rumours surfaced that Trent Reznor was working with the tech giant last year, the article confirms that he'll play a key role in redesigning Apple's music app for the iPhone. According to the Times, his involvement is still a secret — the two Apple employees who confirmed the news asked that they not be named.

Apple also attempted to undercut licensing costs so that their streaming service can offer lower subscription rates, but were ultimately turned down. When it launches, the app will cost $8 a month.

Stay tuned for more information on Apple's streaming service as it becomes available.