An anonymous reader writes: Sony Music CEO Doug Morris said in an interview that Apple will announce a new music streaming service tomorrow at its World Wide Developers Conference (WWDC). The new Apple Music service will include subscription streaming music features as well as a revamped iTunes Radio service. “What does Apple bring to this?” Morris said. “Well, they’ve got $178 billion in the bank. And they have 800 million credit cards in iTunes. Spotify has never really advertised because it’s never been profitable. My guess is that Apple will promote this like crazy and I think that will have a halo effect on the streaming business. A rising tide will lift all boats,” he added. “It’s the beginning of an amazing moment for our industry.”
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