According to a Thursday revelation by three unidentified sources familiar with the proceedings at Apple, the company is apparently planning to introduce a music-streaming service which will take on Pandora Media by sending streams of music customized to the tastes of the users.

The music-streaming service, which Apple is reportedly working on, will allow the users to create online stations based on their most-liked artists, songs or genre; thereby facilitating them in discovering music and listening to it on Apple's popular devices, like the iPhone, the iPad and Mac computers.

Going by the information shared by the sources, though Apple is already in the early stages of negotiations with leading record labels for licensing its music-streaming service, the full scope of the company's plans is still unclear as the talks thus far have been private.

The sources said that since the discussions are in early stages, Apple and the record labels have apparently not worked out the financial terms and other such issues. In addition, the sources have also revealed that the service will probably not be announced by Apple at its forthcoming September 12 press event, at which the company is expected to unveil its next-generation iPhone.

Nonetheless, Apple's plans to develop a music-streaming service will probably cause quite a stir in the growing Internet radio arena, especially since the company has already been a dominant player in the digital music space, with its iTunes store which boasts over 400 million accounts!