Big news about music downloads this week. Rumors have surfaced once again of iTunes offering a subscription-based service that would allow users to get unlimited music downloads for a fee. The FT has reported that Apple is in talks with major record labels to make this dream a reality.

The new business model would give buyers of new iPods and iPhones unlimited music downloads for the entire life of their device. When you buy an iPod or iPhone, you will have the option of paying a one-time, premium fee to get the service.

It’s unclear at the moment how much this fee will be, but a lot of it rests on how much Apple is willing to pay record labels to cover the service. There’s no word yet on when, if ever, this service will be launched, but it will certainly shake up the world of music downloads if it happens.

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