Apple clarifies its plans for cloud music storage

Apple has clarified its plans for using cloud-based remote music storage, according to a new report. Citing several music industry executives, the Financial Times reports that Apple is now planning to use its cloud storage to allow iTunes Store users to back up their music collections and access them from any Apple device. According to one person with knowledge of the company’s plans, Apple doesn’t want to undermine the market it currently dominates for digital music downloads, instead likening its plan to “insurance.” Although no launch date for the service is mentioned in the report, it is noted that Apple’s offering will face competition from a similar service from Google, and from music streaming service Spotify, which is said to be nearing a deal with Universal Music that would give it the support of three of the “big four” record labels and could ultimately lead to a U.S. launch this summer.