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iTunes Radio Now Available As Part Of iOS 7

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Craig Federighi, senior vice president of Software Engineering at Apple, speaks during the new product release in Cupertino, Calif., Tuesday, Sept. 10, 2013. (AP Photo/Marcio Jose Sanchez) | AP

Apple announced that its latest operating system iOS7 will include a livestreaming music service called iTunes Radio, at its press conference Tuesday.

The service, which was announced in June, is expected to compete directly with Pandora, Spotify and others by providing users with custom stations created based on their music preferences, the ability to purchase a song they're listening to and more.

You've heard us say many times that music is deeply embedded in our DNA, Apple CEO Tim Cook said the media event in Cupertino, Calif. "We do really love music."

Music industry executives are hoping that Apple's service will make them more money by encouraging paid downloads -- a practice that's waned since the advent of live streaming services like Pandora, according to the Verge.

More news from Apple's big event:

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