Following Apple's acquisition earlier this year of Dr Dre's Beats Music for a tidy $3bn, they wanna delve into the world of music streaming and gobble it all up for themselves.

According to a source "familiar with the company's thinking," Apple want to offer a music streaming service that will combine the userbase of iTunes - almost a billion - with the few thousand signed up to Beats Music's user-generated streaming app into what would be the biggest moneymaker the music industry has ever known thus far.

Bono, with his businessman's wig on, inexplicably shared his opinion: "If 1/10 of those people [iTunes users] were to be part of a subscription service like Spotify has, and I'm a huge Spotify fan, at $10 a month... Do the math. That's a billion a month. That's $12 billion. That's bigger than the entire music business coming out of one company." That's math, folks.

It's all very big stuff. And it's easy to think Apple could do this, the userbase is there already, they already have relationships with labels and publishers, they're already super-rich, and arriving late to the scene means they can undercut Spotify's $/£10 subscription fee. On the other hand, iTunes has always felt limiting. How will the streaming service be, if indeed it goes ahead?

And what about artist royalties? On average, Spotify pay artists $0.007 per play. With Bono predicting a literal tidal wave of money, will the creators of music fare any better with the iTunes/Beats monster?

But then it's not all clash of the titans; don't forget Qobuz, Rdio, Xbox Music, Rara, MixRadio, Last.fm, Blinkbox Music, Napster (yeah if you didn't know: it's back), Shuffler.fm, and Deezer. They're all out there still. Oh and SoundCloud.