(Ping! Zine Web Tech Magazine) – Before Apple can get to a much rumored HD TV, there are already reports that the Cupertino, California-based company is working to launch a music service similar to Pandora.
According a Bloomberg News report appearing via businessweek.com, Apple has been busy lobbying key record companies in the music industry to obtain rights to legalize such an endeavor.
What’s even more interesting is that Pandora faired rather badly in the latest stock report, falling by 17% around the time that the rumor hit the waves, according to the news story.
Apple initially entered the music market all the way back in 2001 with the introduction of iTunes. Pandora Radio is popular for generating streaming audio content based off a user’s previous music selections. By doing so, the radio player succeeds in gearing similar music styles towards the listener’s likeness.
Pandora might not be the only company to face competition from a possible Apple service. Spotify, which made its debut in the U.S. last July could also be deemed a major competitor.