Watch Out Spotify, iTunes Subscription Service Could be Worth $1 billion

About 15% of U.S. iTunes users are willing to pay at least $10 per month for a music-subscription service, according to a new study by the NPD Group. The report, which concludes that between 7 million and 8 million users have a strong interest in a paid-plan with Apple, suggests that consumers are becoming more and more interested in streaming services and having Web or mobile access to their music libraries. And even though cloud-based Spotify has already built a hugely successful streaming service in Europe, Apple's entrance into subscription-based music could crush Spotify's plans for its upcoming launch in the U.S. market.

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