Best Buy (BBY) Wants Your Music in Its Cloud
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Price: $85.89 +0.19%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 5.3%
Revenue Growth %: +1.1%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 5.3%
Revenue Growth %: +1.1%
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Best Buy (NYSE: BBY) is now aiming for Apple (Nasdaq: AAPL), Amazon (Nasdaq: AMZN), and Google (Nasdaq: GOOG) with the launch of its own music cloud service.
The music cloud, which can be accessed here, is currently compatible with Apple, Research In Motion's (Nasdaq: RIMM) BlackBerry OS, and Google's Android OS.
Best Buy's offering will allow for automatic syncing with your home PC, no adjustments to playlists needed, and you'll be able to listen when you're offline.
Amazon recently released it's Cloud Player, which is the same concept as Best Buy's offering. Apple has also plans to launch iCloud in the fall, which aims to integrate all Apple Apps so users will be able to access them from any iOS 5 device. Google is also looking to launch its Music Beta service.
The Company has tapped CatchMedia to use its Play Anywhere service. Motorola Mobility (NYSE: MMI) is an investor in CatchMedia.
The music cloud, which can be accessed here, is currently compatible with Apple, Research In Motion's (Nasdaq: RIMM) BlackBerry OS, and Google's Android OS.
Best Buy's offering will allow for automatic syncing with your home PC, no adjustments to playlists needed, and you'll be able to listen when you're offline.
Amazon recently released it's Cloud Player, which is the same concept as Best Buy's offering. Apple has also plans to launch iCloud in the fall, which aims to integrate all Apple Apps so users will be able to access them from any iOS 5 device. Google is also looking to launch its Music Beta service.
The Company has tapped CatchMedia to use its Play Anywhere service. Motorola Mobility (NYSE: MMI) is an investor in CatchMedia.
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