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Google Unveils Music Streaming Service

NEW YORK ( TheStreet) -- The rumors were true. Google (GOOG - Get Report) has just announced its music streaming service, known as Google Play Music All Access Subscription Music Service.

At its I/O developer conference, Google's Chris Yerga unveiled the service to take on the likes of Spotify, Rdio and others. It has a "Listen Now" feature which can suggest music to you based on your history. Listen Now allows you to combine your purchased music with the radio feed all in one.

The service will be priced at $9.99 a month, with a 30-day free trial, and launches today in the U.S. If users get it by June 30th, it will cost $7.99 per month.

Google shares were higher in Wednesday trading, up 2.41% to $908.50.

-- Written by Chris Ciaccia in New York

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