• Google Expected to Unveil Music Store and iTunes Rival This Afternoon

    It's the day many Google fans have been waiting for. This afternoon, Google is widely expected to raise the curtain on its own online music store, a reality that could pose a serious threat to Apple's iTunes for a very long time.

    If predictions become reality, Google will debut a storefront that enables users to purchase and store songs online and then access the tunes on multiple devices. This program should give Apple's comparable digital services a run for their money in several key ways.

    “They’re coming into this market rather late in the game, where there are large, established players,” Ray Valdes, an analyst at Gartner Inc. tells Bloomberg in reference to Google's music store aspirations. “You can say it’s a saturated market.”

    But it's not like Google is coming to the table empty-handed. Google has reportedly already reached an agreement with Sony Corp.'s music unit. Similarly, Vivendi SA (VIV)’s Universal Music Group and EMI Group Ltd. are also believed to be committed to Google's efforts.

    Individuals with knowledge of Google's plan say songs will cost somewhere between $0.99 and $1.29 (sound familiar?).

    Google's event begins today at 2 p.m. Pacific, 5 p.m. Eastern. You can check out the announcement yourself at that time by accessing youtube.com/android.

    Source: Bloomberg
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