Google trying to capture the online music streaming and download market with their new music store

Google has been launching new products and services month after month to complement their already large service offerings and gain more market share in areas where so far, others have dominated. The easy to use Google UI is known to every computer literate man, woman and child. After the successful launch and growth of its social media platform called Google+, Google is set to launch an online music store after its cloud-based music service launched in May.

This move will bring Google in direct competition with Apple and Amazon who are leading the market in online music sales. Clearly Google does not need to create a market for their services any more, though eating a chunk out of others seems to be the plan of action.

The New York Times said Thursday that according to “numerous music executives,” the store would “most likely be connected to Google’s existing cloud service, Music Beta, which lets people back up their songs on remote servers and stream them to mobile phones and other devices, said these executives, who all spoke on condition of anonymity because the talks were private and continuing.”

Rumours are that Google has been in talks with major music companies to license their catalogs for their new online store. Of the four large music companies, only EMI Group owned by Citigroup Inc. seems to be close to striking a deal while Universal Music, Sony Music and Warner Music Group are still in talks.

Jamie Rosenberg, a director of digital content for Google’s Android mobile-software unit, which oversees the company’s music initiatives said that some of the terms being offered by music labels seems unsustainable and unreasonable and that Google would start off with labels which have more agreeable terms.

The potential for integrating new products with existing Google offerings is great growth can be expected if done right. As of now, what’s going to happen is still rumours and speculation till we hear back from Google officially but what is floating around seems quite well placed.