This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

RIM Close to Launching Music Service

WATERLOO, Ontario, Canada ( TheStreet) -- Research In Motion (RIMM) is close to rolling out its own music streaming service that will work across its smartphones, according to reports.

The music service is expected to work with RIM's BlackBerry Messenger, the company's instant-message system, reported Reuters and The Wall Street Journal.

RIM is in late-stage negotiations with major music labels Universal Music, Sony Music, Warner Music and EMI, Reuters said.

The new service, BBM Music, is expected to be announced by Sept. 5, according to Reuters. The Journal said the service could launch as soon as next week.

The new service could help the BlackBerry smartphones compete against Apple's (AAPL - Get Report) iPhone and phones using Google's (GOOG - Get Report) Android operating system, the Journal noted.

Analyst Matthew Thornton at Avian Securities told Reuters he doubted the music service would attract new users but might help RIM keep its existing BlackBerry customers interested. RIM's BlackBerry smartphones have been losng market share in the U.S.

People in the music industry have been told BBM Music will cost significantly less than Spotify or Rhapsody, which both charge $10 a month for unlimited access to music on mobile phones, the Journal said.

-- Written by Joseph Woelfel

>To contact the writer of this article, click here: Joseph Woelfel

>To submit a news tip, send an email to:

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.74 0.00%
GOOG $693.01 0.00%
FB $117.58 0.00%
TSLA $240.76 0.00%
YHOO $36.60 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs