Apple Music: 100 Million Subscribers?

The Apple Inc. (NASDAQ: AAPL) Worldwide Developers Conference starts on Monday, with expectations that Apple will officially announce the long-awaited streaming music service.

The New York Times reported that Apple will likely name the new service Apple Music, with initial advertising through iTunes. iTunes customers buying individual songs will be offered a subscription to Apple Music instead.

Apple has set 100 million subscribers as its stated goal, according to a person familiar with the company. Reports further state the streaming service will likely cost $10 per month, with a three-month free trial period.

Related Link: Apple WWDC: This Expert Is 'Most Excited' About Apple Music

The New York Times and New York Post have reported that Apple is looking to acquire top-notch DJs and stars such as Drake, Pharrell Williams and David Guetta. Beats Music, which Apple acquired for $3 billion last year, will eventually be closed down, with current beat subscribers migrated over to the new Apple streaming service.

Apple is hoping that the lengthy free trial, A-list talent and other benefits will help convince those subscribed to rival services like Spotify, Rdio, and Google Play Music to switch to Apple Music. In addition, the company is said be working on an app that will allow Android users to enjoy Apple Music to further expand its footprint.