One of the most talked about missing features that Apple users are clamoring for is a way to access their entire iTunes library while they are away from their computers. One possible way for this to happen is for Apple to create an iTunes-streaming service that could allow iOS users to connect to a server in the cloud to listen to their music collection.
It has been rumored that Apple is working on a service that will do exactly as specified above. Bloomberg is reporting additional evidence by saying that Sony Music has joined EMI and Warner Music to allow licensing of their music to be used on Apple’s Cloud Music service.
If this is true it means that only Universal Music Group would be the remaining holdout for Apple’s cloud-music service. It has long been rumored that Apple’s North Carolina datacenter could be used for something massive, and this could be the last factor that Apple wanted or needed in order to announce their streaming service at WWDC 2011.
It is entirely possible that the discussion that Apple has been having with the record labels are just to renew the contracts with iTunes and they are trying to co-terminate the contract-end dates. If a cloud service is in the works, we may see some inkling or announcement soon.