Apple's premium streaming music service is expected to launch sometime in June. Rumors up to this point suggested Apple was planning to undercut the competition by coming in at a low price of just $7.99 but according to a new report from Billboard, the music industry is having none of it.

Sources tell the publication that although they don't yet know the specifics of Apple's plans, the company seems confident it can create a service that stands out among the competition. Without a price advantage, Apple may look to other methods to attract customers.

The idea of exclusive content has been brought up on more than one occasion but yet again, that's probably not likely. As one industry source put it, Apple is one of the biggest companies in the world and if they want exclusive content, they're going to have to get out the checkbook.

The same would likely be true if Apple wanted to offer its service for $7.99 as Cook and company would need to eat the $2 difference - not exactly an ideal situation.

We've been hearing that Apple will likely do away with the Beats branding in favor of the iTunes name. While the Beats brand no doubt resonates more with younger audiences, most of those old enough to open their own accounts would be more drawn to the iTunes name.

Either way, it's almost a guarantee that the new service won't adopt the freemium, ad-supported model made popular by services like Pandora and Spotify.