Apple Inc. may soon offer its popular iTunes music service to customers with an unlimited access for downloading songs across different devices.
Apple (Nasdaq: AAPL) is currently in talks with music publishers to offer the unlimited service, according to a Bloomberg report. Bloomberg cites unnamed sources that it said have knowledge of the plans who said Apple is negotiating with companies including Vivendi SA's Universal Music Group, Sony Music Entertainment, Warner Music Group Corp. and EMI Group Ltd.
The aim is reportedly to provide a permanent backup of music purchased through iTunes and allow the backup downloads to iPads, iPods and iPhones that are linked to the same account.
Apple operates a retail store in Kenwood Mall and there are two MacTown authorized Apple retailer stores in Dayton — at The Greene and near the Dayton Mall.
The company's iTunes service competes with many top retailers, including Wal-Mart Stores, Target Corp. (NYSE: TGT) and Best Buy Co. (NYSE: BBY). Walmart (NYSE: WMT) had been the largest music retailer in the country until iTunes passed it.
Apple's most popular device is the iPhone, which is sold by Verizon Wireless, a unit of Verizon Communications (NYSE: VZ) and AT&T Inc. (NYSE:T), both of which carry Apple’s iPad and iPad 2 that was launched this month.
Apple's stock price has soared in recent years, and is among the largest holdings of many mutual funds that make up 401(k) programs for many companies nationwide, including in Dayton. The technology giant's stock price has grown from $220 per share in March of last year to $360 per share Friday.