Maybe the problem with music streaming services isn't the product, but the message behind the product. Alan Goodstadt, partner at Redwood Capital, told a Digital Hollywood audience that music streaming services suffer from a lack of awareness.

"The problem is nobody in this industry is doing any marketing," he said. As a result, he noted, Apple will be first to the mass market should they decide to move into streaming.

But Goodstadt doesn't believe Apple will be the only player in that market. A fan of music service Rdio, he said there is room for competitors and that Apple's entrance would benefit other services because of the consumer education that would come as a result.

If streaming companies aren't doing marketing, it's because their cash is being put to other uses. Partnerships that grow distribution channels, for example, may be a better use of limited resources than marketing. And given the lack of consumer reaction to these services, one has to wonder if the problem is value proposition and not the message.

If Apple did launch a streaming service, it would certainly have the upper hand. Then again, noted Kenneth Hertz, senior partner at Hertz and Lichtenstein LLP, it's hard to look 10 years out and predict who will own a market. "Ten years ago it would have been a question of AOL or Yahoo."