Los Angeles - A number of Apple-related blogs are today reporting on an anonymous tip they all received, which claims Apple (NASD: AAPL) will introduce an unlimited iTunes subscription music service in late October. The service would reportedly deliver songs at 256 Kbps and cost $130 per year, or $100 for subscribers to Apple's MobileMe service.

The tipster also claimed that "iTunes Unlimited" would initially be available only in the U.S., and at launch would offer 50% of the catalog found at the iTunes Store.

Meanwhile, Silicon Alley Insider is skeptical of the rumor, claiming to have "checked with a variety of music executives at major labels, and none of them have heard about it. Not happening."

Poll: Is $130 Per Year iTunes Subscription Service a Good Idea?

Related Links:
http://www.tuaw.com/2008/08/20/the-rumor-room-itunes-unlimited

http://blog.wired.com/music/2008/08/details-rumored.html

http://snipurl.com/3ijci (Silicon Alley Insider)