Rumors Fly Ahead of Apple's iTunes Announcement

Apple Inc AAPL has signaled it will make a major announcement about iTunes on Tuesday, touching off speculation about everything from a Web-streaming music service to the long-awaited arrival of the Beatles catalog. The Wall Street Journal reported on Monday that Apple is indeed finally bringing the music of the Fab Four to iTunes. EMI Group Ltd, the Beatles' record label, did not respond to a request for comment. On Monday, Apple gave over the entire front page of its website to tease an announcement scheduled for 10 a.m. Eastern Standard Time (1500 GMT) Tuesday, but gave few decipherable clues. "Tomorrow is just another day. That you'll never forget," the message read. The notice triggered debate among analysts and bloggers about what Apple might announce for iTunes, the world's No. 1 music retailer. It has been rumored for months that Apple will launch a "cloud" -- or Web-based -- version of iTunes. Such a service would allow users to stream content over a network onto various devices. An Apple spokesman declined to comment further. The company usually hosts a media event when it wants to unveil a major new product or service, but Tuesday's iTunes announcement will be made online, which only added to the mystery. The Beatles -- arguably the most famous rock band of all time -- have been the most prominent hold-out from the iTunes Store. Rumors about an agreement with Apple have circulated for years, but Apple may have finally sealed the deal. The iTunes Store has helped redefine music retailing since its launch in 2003. More than 10 billion songs have been downloaded from iTunes, which features a music catalog of more than 12 million titles. Apple has also branched into selling and renting movies and TV shows. CLOUD ITUNES STILL TO COME? Analysts said a streaming version of iTunes is in the offing at some point, but said it is not clear Apple has yet reached the necessary deals with record labels, with whom the company has repeatedly clashed over the years. Read the rest here.