Apple’s decision to buy Beats Audio a year ago for $3 billion immediately made the market wonder whether or not the Cupertino-based company had any music-related plans in store. Eventually, it later turned out that Apple had plans to leverage its Beats asset as their means of entering the music streaming industry, according to Tech Times.

Rumor has it that Apple will be making the official announcement at the Worldwide Developer Conference, which has already been set to take place in San Francisco a week from now.

The New York Post has reported that Apple is actually presently negotiating with a multitude of today’s biggest music artists and music producers, such as David Guetta, Pharrell Williams, and Drake. Unfortunately, there has been no confirmation on whether or not these aforementioned artists have signed on.

Apparently, Apple wants to re-launch Beats, now that they own it, along with a new iTunes Radio as part of a music streaming service that could strongly rival Spotify, Pandora, and YouTube.

Apart from streaming music, the American tech giant also wants to offer its subscribers with videos, free lyric listings, as well as artist pages, all for only $10 a month. To entire potential users, the company will reportedly offer a free trial for the service for three months.

One problem that Apple may have with regards to this upcoming music streaming service is that numerous record labels are reportedly not happy with the freebies that Apple plans to offer to their clients. According to the report, it would seem that the company is expecting them to shoulder a huge part of the necessary expenses.

Another thing that is making negotiations even more complicated is that Apple wants the rights to the lyrics to be given to them at absolutely no cost. Apart from the lyrics, the company is also reportedly talking to the labels to provide them with music streaming rights for free for the three-month period that they had promised in line with their $10 subscription.

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