With digital downloads in iTunes on a steady decline in 2014, Apple is setting its sights on streaming as it looks to revamp the recently acquired Beats Music service. According to the Wall Street Journal, which sites a "person familiar with the matter," Apple plans to relaunch Beats as part of iTunes next year. That's in line with last month's assertion by Apple that it could make "changes" to Beats -- including the brand name, presumably -- and not shut it down entirely.
Apple acquired Beats Music and its namesake headphones manufacturer for $3 billion in a deal finalized in August, as the company looks to compete with Spotify, Pandora and other leading streaming services. The tech company is reportedly negotiating with major labels to lower their licensing rates on streams, allowing Apple to move its new streaming service's monthly price below $10 per month.