According to Bloomberg, Microsoft is inching closer towards competing against Spotify by offering a streaming music service under the Xbox brand. Supposedly the music service would also have the ability to download and store songs just like iTunes. Microsoft is currently in talks with the music labels like Universal Music Group, Warner Music Group, Sony Corp., and EMI.
Xbox Music would have a monthly or annual fee and let consumers buy music through an online store. The talks for the music service are still early. Microsoft is aiming to make the Xbox music service also sync with mobile devices running Windows 8.