Last week we heard that Apple were spending $19 million to get Drake, amongst others (for probably varying amounts of money) to appear on their new iTunes Radio service, the launch of which is imminent. In fact, it's going to be announced today, at Apple's Worldwide Developers Conference

Doug Morris (CEO, Sony Music) speaking yesterday at the Midem Music Industry Festival at Cannes, said, "It's happening tomorrow," referring to the the announcement of Apple's new streaming service. He continued:

"What does Apple bring to this? Well, they've got $178 billion dollars 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."

So, good odds on success.

All of this arrives following Apple's $3 billion purchase of Beats Music back in May last year, after which rumblings of a Spotify-rivalling streaming service have pretty much heralded this official announcement today. They sure know how to drag things out.