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Xbox Music to feature streaming, downloads, cloud storage - report

Monthly and annual payment options expected for upcoming iTunes/Spotify rival

Xbox Music will offer Spotify-style streaming as well as downloads and cloud storage features similar to Apple's iTunes, according to Bloomberg.

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Sources told the financial site that streaming and cloud storage will be available for a monthly or annual fee, with digital tracks accessible from an online store.

Announced at E3, Xbox Music is expected to offer users access to 30 million tracks. Microsoft ‎is reportedly negotiating with Universal Music Group, Warner Music Group, Sony and EMI in a bid to secure their catalogues.

Xbox Music is tipped to launch later this year alongside Windows 8, and will be available on Xbox 360, Windows 8 PCs, as well as tablets and smartphones.

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