If you own an Apple device, ready your earholes as it seems that the tech giant will be announcing its new music streaming service a bit later today.

Apple’s annual World Wide Developers Conference (WWDC) kicks off in a couple of hours, but Sony Music CEO Doug Morris has jumped the gun on a crucial piece of information.

According to Morris, Apple will officially announce the streaming service today. During an interview on stage at the Midem Music Industry Festival, he simply said “it’s happening tomorrow”.

There have been rumours of a new music streaming service from Apple for a while, and speculation has even pegged the service as having a $10 entry fee.

Morris is of the opinion that Apple’s latest endeavour will be a good thing for the music industry as a whole.

“What does Apple bring to this? Well, they’ve got $178 billion dollars in the bank. And they have 800 million credit cards in iTunes. Spotify has never really advertised because it’s never been profitable. My guess is that Apple will promote this like crazy and I think that will have a halo effect on the streaming business,” he said.

“A rising tide will lift all boats. It’s the beginning of an amazing moment for our industry.”

This comes just two months after musician Jay-Z bought and relaunched the Tidal streaming service. The audio provider streams lossless music at two price points: Tidal Hi-Fi for $19.99 a month, or Tidal Premium for $9.99.

[Source – Venture Beat]