The New York Times says that Google may announce their own music streaming service at Google I/O, which literally just started right now. (Google I/O is the company’s annual gathering of software developers.) Via NME:
It is thought that Google, who will rival the likes of Spotify, Rdio and Rhapsody if they do launch their own streaming programme, have already reached licensing agreements with Sony, Warner and Universal, although there has been no official confirmation of any agreed deals.
The New York Times also suggests that negotiations have been protracted due to the music industry’s frustration at Google’s perceived failure to help combat music piracy – in November 2011, International Federation of the Phonographic Industry (IFPI) accused them of making money from file-sharing and said they needed to take firmer action to stop illegal downloading.
The announcement is expected to take place between the unveiling of Google Knee, which sends data directly to your kneecap, and the annual swimming Scrooge McDuck-style in a pool full of money.
UPDATE: Google to take on Spotify !!