Steve Jobs took the wraps off the new iTunes 10 today, introducing several new features and a new look for the application icon. Ditching the CD that was part of the application icon since its release, the new iTunes 10 icon is simpler and cleaner.

Several changes in the UI have made the interface design simpler and more elegant. For example, a hybrid display mode now recognizes if there are more than 5 songs in an album, it will display the album art to the side, making the list view prettier, and taking up no more space than before.

The major announcement was the addition of social integration to discoverability of music and artists. Apple introduced Ping, a social network all about music. Integrated into iTunes, Ping allows you to follow and be followed, share music and videos, and check concert listings for your favourite artists. Jobs addressed head on the issue of privacy, detailing that being followed by others is a strictly opt-in process, and that users will have the ability to create a “Circle of Friends” and be as private or as public as you like. You will have the ability to check concerts near you, and indicate that you are attending, as well as find tickets for the event.

Ping is not only available on your computer, but will also be accessible through your iPhone and iPod Touch.

iTunes 10 is available today.

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