iTunes Subscription Service Coming Soon?

Within the next month a major change may be coming to Apple’s digital music strategy with Steve Jobs reportedly about to unveil a subscription-based service connected to the iTunes store.

Although Jobs has blasted subscription-based music services in the past saying,”the subscription services are not succeeding… People want to own their music, not rent it.” But he seems to have flip-flopped, and the timing could be right on as iTunes currently dominates digital music sales and could convert users of other subscription-based music serivces like Rhapsody.com.

From CNET.com:

Imagine a subscription-enabled iTunes 7 with all-you-can-stream access to more than 3 million tracks for $10 month. You’d also be able to compile playlists manually or automatically using a mix of your own songs and the entire iTunes catalog. You could actually fill up a 60GB iPod with the click of a button. You’d still have the option to buy tracks, perhaps for less than 99 cents. As a subscriber, you’d get access to videos and maybe even movies for a few bucks more. Of course, you’d have to get the newest iPod, equipped with an internal subscription clock.