As if Apple did not have enough facets to its company name, it is now rumored that they will be delving into radio. This rumor comes following the rumor that Apple's big September 12th event will unveil the iPhone 5. Coming out with a new model of the beloved iPhone in addition to creating a new program has Apple fanatics swirling. It has also been reported that Apple is in already in talks with record labels to showcase on their version of web-based radio. Apple is statistically the largest music retailer in the world (Allaccess.com).
With this rumor surfacing, long-standing web-based radio program, Pandora, has taken a serious bashing in terms of stock. The Wall Street Journal reported that the Pandora stock to a startling 18 percent drop from investors when the Apple radio rumor was leaked. Sources are unknown in the leak but big name news sources such as The New York Times have been abuzz with the news. The real debate becomes whether Pandora users will remain loyal to their radio stations, or if they will make the switch to Apple radio if it does indeed come to life.
However, the Wall Street Journal does point out that Apple has never really had a leg up when it comes to cloud services. There are many other stronger radio programs, which have become wildly popular in today's avoidance of actual purchase of music such as Rhapsody and Spotify.
Perhaps the most important element of this possible unveil is timing. If Apple is smart, they will coincide it with the launch of another one of their highly anticipated products in order to gain hype around the potential new service. While this topic is all very fresh and new, continued news of the possibility will undoubtedly continue until Apple clears the air. At this time they have declined to comment, supporting rumors even more; but, an interesting topic still. Apple has virtually taken over every area of the music and technology fields - will they take over radio now, too?
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