Apple working on new iRadio service

iPod /

Rumors have been circulating for months about the possibility of Apple releasing an iRadio service comparable to Pandora's services. While there has been substantial speculation on this subject, a recent article from BTIG analyst Richard Greenfield has many giving credence to the rumors.

Greenfield made 13 predictions on what to expect in 2013 in media. At the top of the list was the launch of Apple's iRadio.

“With consumer behavior increasingly shifting toward access to a music catalog from ownership of specific songs, Apple launches an iRadio service,” Greenfield said. “We expect iRadio to be incorporated into the iTunes iOS app with personalized radio functionality akin to Pandora, integrated with iTunes to purchase music and other music related content such as concert information/tickets/merchandise via Live Nation and Ticketmaster.”

Greenfield went on to suggest that Apple has been engaged in negotiations with music labels so that it can offer global consumers a stronger product than other current radio services, which face restrictions from compulsory licensing. This news of progress is especially welcomed given reports from December that suggested negotiations were far from completion.

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