Internet search giant Google, Inc. (GOOG) is priming to launch a subscription-based streaming music service that will be similar to that of Spotify AB, according to media reports on Tuesday. The launch could be announced at its annual conference of software developers called Google I/O event in San Francisco on Wednesday.
The content will come from the licensing deals it has already struck with three of the largest record labels, Warner Music Group, Sony Music Entertainment and Universal Music Group. This will see it providing subscribers access to music from the most comprehensive and impressive assortment of artists that can be accessed on any device.
Google's already provides a music service through Google Music on Google Play for only devices powered by its Android operating system. The service, which allowed users to buy only individual songs or albums, was launched way back in 2011.
There has been no information coming on what fee Google will charge for this new service. Though Google generates a major chunk of their revenues from selling advertisements, it is not clear if the new service will be partially ad-supported.
Spotify charges a fee of $9.99 per month for unlimited access to songs through any device, while it also has a free ad-supported version. Pandora provides a similar service as Spotify, but charges only $3.99 per month for its service that is a radio-style service.
Among other announcements expected at Wednesday's event, Google will reportedly unveil several upgrades to its Android software and also co-developed hardware such as Android-powered Nexus smartphones and tablet devices.
Additionally, it is expected to announce more features for its much awaited Google Glass wearable-computing device, which is anticipated to be launched next year for customers.
GOOG closed Tuesday's regular trading session at $887.10, up $9.57 or 1.09% on a volume of 1.58 million shares.
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