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iTunes Alert: Apple Aquires Streaming Music Company

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Streaming music has been the breakthrough development in the music industry this year. Spotify has achieved widespread recognition, Napster continues to go from strength to strength and Sky Songs means even Rupert Murdoch is in on the act. So this development can't come a minute too quickly for Apple...

The New York Times is reporting the Cupertino based giant has struck a deal to buy 'Lala', a four year old start-up specialising in, yes, Cloud based streaming music. Specifically Lala is browser based, something that ties in nicely with the iTunes Preview store currently in public testing.

Interestingly Lala is quite the chameleon business. It began as a CD swapping service in 2006 before evolving into a platform which let users store their music collections online. Predictably, the music industry quickly came down on that one and Lala evolved again this time becoming the streaming media business which eventually caught Apple's eye (insert joke here).

Lala has also recently done deals with Google and Facebook, the former to stream music directly through search results, the latter to allow users to gift music, though it is unlikely Apple would be quite so open should the takeover reports be true.

No price has been put on this prospective deal, but if Apple can make good use of Lala's streaming technology it may prove priceless...

Link:
via The NYT

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