Qriocity: Sony's Upcoming Cloud-Based Music Service

Apple (AAPL) may have made some waves today with its latest line of products, Apple TV, and new social networking additions to iTunes, but Sony (SNE) is quietly working in the background to build a music service to challenge the market. CNet is reporting that Sony will launch a new music and video subscription service, stating that "Sony would use its [Web-connected] PlayStation games consoles as the starting point for a new service that users will be able to use across a range of other Internet-connected devices." The service will be cloud-based – an option that many Apple fans had been wishing for at today's news conference. With so many users craving a service that will provide streaming music, Sony is stepping up to the plate to provide what consumers have already expressed an adamant desire for. The project was unveiled at the IFA consumer electronics show, where Kazuo Hirai, President of the Sony Corporation, said, "Services powered by Qriocity will revolutionize the way that users play, listen, watch, share, communicate, learn, discover and create their digital entertainment content." Although the first program to launch on Qriocity will be the music service, Music Unlimited, Sony is in the works to release video, game applications, and e-books as well.