Lala.com, the online music streaming service that was acquired by Apple late last year has announced that the service shall be closed on May 31. This could be a significant development that would indicate that the launch of a cloud-based iTunes is closer than you think.
There have been speculations doing the round that Apple may use the infrastructure acquired from Lala to offer a web-based iTunes account that users can use to stream music from anywhere. Significantly, this can have a serious implication on the sale of music and videos from iTunes. Currently, users are hindered by the storage space available on their iDevices which has led to users purchasing content less than what they may ideally want to for want of additional storage space. With an always-accessible cloud-based iTunes service, users may stream music and video on demand which would ultimately help Apple sell more digital content per user than they have currently been achieving.
There is no announcement from Apple in this regard. We hope the cloud based solution launches soon after.