Trent Reznor will design Apple's new music app; won't cost less than its rivals

Looks like, Apple is preparing a big change for its digital music service. The company plans a complete overhaul to its design to compete with services like Spotify.

According to The New York Times , Apple is now working with Beats engineers and executives to launch its own subscription streaming service. Besides, it also plans to spruce up iTunes Radio. Citing two people familiar with the matter, the report says that the company has roped in Trent Reznor, the Nine Inch Nails frontman to redesign the music app.

The report also adds that Apple has failed to convince record labels for lower licensing costs. Lower licensing costs would have allowed Apple to charge as low as $7.99/month for the streaming service. With this move, it could gain an edge over rivals like Spotify, Rhapsody and Rdio by around $2. However, looks like, the company’s new music streaming service won’t cost less than its rivals.

Last year in May, Apple had bought Beats Music and Beats Electronics which is best known for its headphones . The tech giant had paid nearly $3 billion for the company.

However, it is known that the biggest  reason for Apple purchasing Beats is it wants a larger piece of the music streaming market. Before Beats Music, Apple only had iTunes Radio, which has been struggling against Pandora, the largest internet radio service for smartphones and mobiles.

Beats Music, on the other hand, is unlike Pandora or iTunes Radio, it’s an on-demand service like Spotify. This means Apple will have two different products in the music streaming market, which have different features, allowing the company to compete on different fronts.