Prior to this, Apple had introduced its own streaming radio service iTunes Radio at the Apple Worldwide Developers Conference in June 2013.Global IT companies are introducing streaming radio services as the size of the streaming market is expanding at a rapid pace, in contrast to the contraction of the music download market.
A market research firm Gartner predicted that the annual growth rate of the download business in the global digital sound source market is forecast to stand at 3.8 percent by 2015, while that of the streaming business is likely to grow 44.8 percent per year with its market size reaching US$2.2 billion.
According to Samsung officials, the monthly usage fee of Samsung Radio will likely to be set at less than 2,000 won. Backed by its price competitiveness, Samsung Radio will likely to pose a serious challenge to Melon which has enjoyed a leading position in this area.