Google is reportedly preparing to launch a music download and streaming service. A Wall Street Journal report cited unnamed sources in claiming that the company was working with music industry groups in preparation for a music download service set for release later this year. A streaming subscription service is also reportedly set to launch some time next year. The move would put Google in competition with Apple’s highly successful iTunes music store. The PC and handset-based service has staked its claim as the top music retailer in the world and served up more than 10 billion song downloads in its seven years on the market. The launch of a music service would also expand the areas in which Apple and Google find themselves in direct competition.