Apple is planning to launch a Spotify killer that costs less money

Apple is planning to release a music streaming service this year that will go straight after Spotify.

Apple is working on a plan to integrate Beats Music’s streaming service into iOS, iTunes, and Apple TV, according to 9to5Mac’s Mark Gurman.

Apple bought Beats last May for $US3 billion, its largest acquisition to date.

Here’s what you need to know:

  • Apple is rebranding Beats Music and will ditch its red and black colour scheme
  • Users will be able to keep their music in the cloud or on specific devices
  • The service is rumoured to cost $US7.99 a month, less than competitors like Spotify Premium, which cost $US9.99 per month
  • Apple is developing an Android application that will incorporate Beats music streaming
  • A source told 9to5Mac that “”Beats integration is not going so well.”
  • The rebrand has reportedly taken longer than anticipated because of a lack of clarity from Apple execs

NOW WATCH: Tech Insider videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.