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November 20, 2014

Apple to offer Beats music service in 2015

Will rival Spotify, Pandora and Soundcloud.

By CBR Staff Writer

Apple is reportedly planning to add the Beats subscription music service to its iOS powered devices from early March next year.

To be rebranded under the iTunes tag, the new music service will enable Apple to establish its dominance in the music market currently dominated by Spotify, Pandora and Soundcloud.

The latest move into subscription music comes in the midst of declining downloads from its iTunes service, the Financial Times reported.

Prior to Apple, Google’s YouTube also revealed plans to roll out YouTube Music Key, which is a long-awaited paid monthly music subscription service.

The iPhone maker acquired the high-end headphones maker and music streaming service for $3bn in May, ikn the hope that it would help revive its product line.

Established in 2008 by rapper Dr. Dre and music industry executive Jimmy Iovine, Beats generated annual sales of about $1.5bn in 2013, while attracting $500m investment from the Carlyle Group.

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