Rumor: Apple readying 'iTunes Replay' streaming service

Apple has yet to fly its customers into the iCloud, but recent rumors suggest the expansion to the immensely popular iTunes isn't the only new service the company is prepping.

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The independent Apple-centric site AppAdvice cited unspecified sources who claimed iTunes Replay, which would significantly bolster Apple's previous efforts to break into the increasingly competitive online television streaming market, was "on the edge" of release.

AppAdvice detailed the alleged service based on its insider-gleaned intelligence:

In a nutshell, iTunes Replay is an extension to what Apple is already doing with iCloud and free re-downloads of previously purchased music. As Apple secures the remaining rights, TV Shows as well as Movies in iTunes will be given little arrow indicating whether they're "iTunes Replay eligible," that is, available to be downloaded again. Note that some content will unfortunately only be available to download five times and we don’t know how streaming will count towards that limit.

The site claims customers who bought movies way back in 2009 will still be able to stream them via Replay. Additionally, it was told the name would likely stick when Apple officially confirms its existence "in the coming weeks."

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On Tuesday Apple announced the developer-only beta version of its long-rumored iCloud service was live and confirmed all iTunes users will have access to 5GBs of storage for the low, low price of free when it launches this fall. Additional storage options will cost between $20-$100 per year.

Expect more coverage of this rumored service should Apple provide an official statement. (via Home Media Magazine)

What do you think about the prospect of Apple directly competing with Netflix, Hulu and other dedicated streaming companies? Let us know in the comment section.

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