Any likelihood IT giant Apple will be launching a new iTunes streaming service is being seen as “unlikely” after it was reported that Apple most likely does not have the required licenses from major content providers.

Website AppleInsider reports the company does not have the explicit rights to offer an all-you-can-eat subscription service based on information the website received from music industry sources.

Rumours have been flying that Apple will announce an “iTunes Cloud” service this week that allows users to stream content they have paid for to internet-connected devices. AppleInsider rightly points out that with the growing number of devices Apple has that are now web-connected, it is logical for the company to enable those devices to interact with user’s paid content in a simpler way.

Apple will be making a major announcement Tuesday 10am US-eastern time with rumours flying that the company will finally announce that it has locked in a deal to offer the Beatles collection on its service.

If so, it will be the first time the band known as the Fab Four will have relented over digital download rights and a coup for Apple. The ability to offer music from one of the biggest bands in music history will also give iTune’s bottom line a further nudge into the black.

Whether it’s as big a nudge as some suggests remains to be seen. Most users have been quite capable for some time of ripping their Beatles’ audio CDs and uploading them to their devices. What digital downloads will do is bring the Beatles to a new generation who may have never heard their music before or those with an incomplete Beatles library. On the basis of the millions of iPod devices on the market, marrying the most popular music devices with one of the most popular bands in history will have Apple bean-counter ch-chinging all the way to the bank.

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