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#apps4TO Kicks Off + the week in TO innovation and biz:
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Twitter and Apple to Launch New Music Streaming Initiatives
Twitter #Music app and Apple iRadio will enter the fray with Spotify, Pandora and others

Reports indicate that Twitter will launch its new music app this Friday, a new service that will offer “the best new music in the world right now” by pulling music recommendations from We Are Hunted, a company known for tracking emerging and popular tracks on social media, which Twitter acquired last year. Thus, listening suggestions will be made based on trending tracks, accounts you follow, and what you’ve already listened to.

There is speculation that the app will be available on mobile as well as in a desktop or web form and will integrate with iTunes, Spotify, SoundCloud, Rdio, YouTube and Vevo, to suggest both audio files and videos to users. The streaming-only app is also expected to allow direct purchases through iTunes. The app has already been made available to a select group of music industry insiders and artists, who have been tweeting about it positively.

Meanwhile, rumours are also circulating that Apple is close to solidifying plans for its own iRadio streaming service, similar to Pandora’s free, personalized online streaming service, but with “more on-demand features”. Agreements with Universal Music Group and Warner Music are reported to be nearly finalized. A deal with Sony will also be required for the service to move forward. According to The Verge, the service is supposed to help iTunes users discover new music and boost sales of downloads as well as generate ad sales.” In a display of Apple’s untapped streaming potential, Phoenix’s new album Bankrupt! is currently streaming on iTunes. 

[via Silicon Republic, Mashable, Contact Music, The Verge]

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Eva Voinigescu is an intern at Toronto Standard. Follow her on Twitter @EvaVoinigescu.

For more, follow us on Twitter at @torontostandard and subscribe to our Newsletter.

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