xboxmusic

Microsoft Corporation (NASDAQ:MSFT) is planning a major Xbox music service. According to Bloomberg Businessweek, this service will have a streaming style like Spotify and download as well as online-storage capabilities like iTunes of Apple Inc. (NASDAQ:AAPL). The software provider is currently negotiating with record companies, and plans on launching the service towards the end of this year.

Microsoft’s idea behind the service is to bring together great features already provided by its competitors in one place to enable users to listen to music the way they prefer. According to the company, it is starting the new music business after things did not work out with Zune. The customers will be shifted to Xbox Music.

The software giant is currently in talks with Universal Music Group, Warner Music Group, Sony Corp., and EMI, according to the sources.

Microsoft Corporation (NASDAQ:MSFT) is looking to allow users to stream by paying a monthly or yearly fee, like they can do with Spotify, and allows users to purchase digital music online, like they can do with Apple’s iTunes.

Microsoft is also looking to provide customers with an online locker that they can access by several mobile devices that have Win 8. Xbox Music users will have the option of keeping their complete music collections in their locker, including the music they buy from other places, for a monthly/annual fee.

It’s still early days as far as the talks are concerned and it’s hard to say whether or not Microsoft will be able to get everything it wants. Even if they manage to get it all, they may offer new options over time.

Announcement regarding Xbox Music was made on 4 June. The venue for the announcement was the E3 video-game conference held in L.A. The company did not explain how the service will function or when can people expect it to be available.

Xbox Music has been announced and the record deals are still not completed. Microsoft requires a positive response from the four aforementioned companies to make sure that their service has more artists’ work than Zune, according to the sources.