Yinka Adegoke reporting for Reuters:

Apple Inc has completed work on an online music storage service and is set to launch it ahead of Google Inc, whose own music efforts have stalled, according to several people familiar with both companies’ plans.

Aside from the ability to redownload previously purchased music, I don’t really know why I would want a streaming music service like this. I’m sure there are a lot of users that have dozens of gigabytes of music, but I don’t. I currently have just over 7GB of music and this leaves me plenty of room for apps, photos, videos, etc. on my iPhone and iPad. I just hope there’s something more to this music storage service, otherwise I’m not sure it’ll be as successful as we all hope.