Beats and Rhapsody increase music streaming competition

Competition in the global music streaming market is set to intensify, with headphone maker Beats Audio and US player Rhapsody making further moves into the space. Beats is confirming that it will overhaul MOG, the US streaming firm it bought last summer, to offer music downloads and streaming in competition with iTunes and numerous subscription services such as Spotify. The firm says that the new service, codenamed ‘Daisy', will launch before the end of 2013 as a standalone company under the Beats umbrella. It has also appointed former Topspin CEO Ian Rogers to head up the service, with Nine Inch Nails frontman Trent Reznor serving as chief creative officer.