Rumors have begun circulating that Apple is planning on phasing out its iTunes online music store in favor of its young streaming service, Apple Music. The tech giant debuted the on-demand streaming service a year ago, and, in that time, Apple Music has proved an enormous success, amassing more than 10 million paid users and putting a lot of pressure on Spotify.

While Apple Music still brings in only a third of the revenue that the iTunes music download store does, Apple clearly has confidence that streaming is the future. Reports indicate that they are considering two timelines for the phase out, one that would take three to four years, and an accelerated plan that would take just two. Apple is expected to unveil a late update to Apple Music next month.

Via: Business Insider

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Tags: Apple, Apple Muisc, iTunes, streaming

Categories: Music