When Apple bought Lala late last year, the consensus was that Apple will launch a web version of iTunes that will allow users to stream music from the cloud and access it from any internet-enabled device. However, it seems like everybody thought of that but Apple. According to many music labels, Apple still hasn’t secured rights to do that and Apple has been debriefing that if a cloud-based version of iTunes is indeed launched it would be very “modest in scope”.
On the other hand, rumors are floating around that Apple has a team working on video streaming services for quite a while now and plans to offer streaming of TV shows and movies from Lala. While nothing is certain yet, the fact that Apple is building a $1 Billion data center in North Carolina supports the fact that Apple is gearing up its infrastructure to offer some serious streaming services.
However, it is also important to note that Apple cannot let go of such a huge market in which Google is almost ready to enter. It is strongly believed that Google will launch its music streaming service pretty soon and without the stringent requirement of a native app like iTunes, Google’s music service can do very well specially with the given growth of Android users.
So, even though there is a lot of speculation around iTunes or Apple’s video streaming service, like every other Apple product, there is nothing conclusive yet and probably won’t be till the actual day of launch.