Google (s GOOG) is set to launch its own Spotify-like music subscription service at Google I/O Wednesday, according to reports from the Verge, the Wall Street Journal and the New York Times. The new service will offer unlimited music streaming, but also tie in with Google’s existing music locker offering and its MP3 store, according to these reports.
Google has been negotiating to launch a music service for some time, and apparently struck licensing agreements with all three major labels just in time for its developer conference, which will be held in San Francisco this week. That means the company beat Apple (s AAPL) to the punch; Apple has reportedly been in negotiations to launch a Pandora-like (s P) radio service.
Google will have to compete with a growing number of subscription music services, which include market leader Spotify, Rdio, Rhapsody, Muve Music and the yet-to-be-launched Beats music subscription service. However, Google would be the first company to combine a music locker for cloud-hosted personal music collections with a subscription offering.
Check out all the details of the announcement, as well as everything else Google is going to unveil, by following our Google I/O coverage, including a live blog of the keynote starting at 9am PT Wednesday.