Apple to Take on Spotify With $10 Monthly Streaming, Web Radio Programmed by Celeb DJs The company will announce a new music streaming service at its Worldwide Developers Conference on Monday.

By Geoff Weiss

Opinions expressed by Entrepreneur contributors are their own.

Entrepreneur

If Apple forever changed the music industry with the launch of iTunes in 2003, the company is now readying a giant splash into the ever-crowded streaming category, which has become the de rigeur mode of consumption among today's music consumers.

Apple already counts two streaming services, the relatively tiny Beats Music as well as its fledgling iTunes Radio -- a free, ad-supported platform that launched in 2013. At its Worldwide Developers Conference on Monday, however, Apple will unveil a revamped service to take down category leader Spotify.

The new, ad-free subscription service will be priced at $10 per month, The Wall Street Journal reports, and Apple is poised to cannibalize its iTunes sales -- which account for roughly 85 percent of all music downloads worldwide -- in order to push a new wave of streaming.

Related: What Accidentally Buying Kurt Cobain's First House Taught Me

Though Apple is a relatively late arriver to the category, where Spotify accounts for 86 percent of the U.S. market, it is hoping to convert the hundreds of millions of iTunes users for whom it already has credit cards on file, according to the Journal.

And much like Jay-Z's Tidal, Apple is mustering some serious star wattage to herald the announcement. Drake, Pharrell Williams and David Guetta could reportedly serve as DJs for a revamped version of iTunes Radio that will now feature programming hosted by DJs, according to Billboard.

Apple plans to continue running Beats as a separate service for the time being, the Journal reports, before eventually folding all of its users into the new platform.

Related: Apple's Beats Music Draws Antitrust Scrutiny Over Deals With Record Labels

Geoff Weiss

Former Staff Writer

Geoff Weiss is a former staff writer at Entrepreneur.com.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Business News

'Feels Like a Slap in the Face': Some JPMorgan Employees Reportedly Aren't Happy With Their Bonuses

JPMorgan reported a record-high net income for 2024 of $58.5 billion.

Business Ideas

70 Small Business Ideas to Start in 2025

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2025.

Business News

People Are Selling Old Phones With TikTok Installed for Thousands of Dollars — Here's Why

There are listings on resale sites for iPhones and Androids with TikTok downloaded for up to $10,000.

Business News

A 74-Year-Old Musician Makes a Million a Year From an Unpopular Song Written Nearly 50 Years Ago. Here's How.

The song never became a Billboard hit but proved extremely lucrative for its writer.

Innovation

These Are the Top Innovations Paving the Way for Clean Energy By 2030

The UN's 2030 goals depends on maintaining the momentum of research, development and innovation in the field of clean energy. Here is how three industry leaders — Tesla, ICL Group and First Solar — are setting the standard in clean energy with their groundbreaking innovations and paving the way into the future.