The biggest news to break since Spotify debuted in the U.S. may be the Wall Street Journal report that detailed the potential for Apple to develop a radio service. Many analysts agreed that this development could devastate the already beleaguered, yet still dominate Pandora and mortally wound Spotify.

The consensus seems to be that the online music market is unwieldy and yet to prove profitable. So if Apple takes a shot at radio it could easily distribute the app to 400 million iOS devices and quickly become a major player.

If Apple obtains direct licenses with record labels, it would have more flexibility in using music. And it's said the company may begin to play a role in promoting new music.

Can Apple revolutionize internet radio?

If Apple suddenly "turned on" their internet radio service, I don't think it'll necessarily cause a paradigm shift overnight. I DO believe that they have the potential to become a dominant force within online radio in a relatively short amount of time.

However, it'll take a lot more than simply introducing a service to revolutionize the space. For that to happen, Apple would have to do what it does best: introduce products / services in a way that somehow make us feel that we've been waiting for them for the longest time.

There are many contenders in online radio that (more or less) satisfy our current needs. Apple would have to integrate their online radio in a way that makes our lives better - testament to the company's philosophies.

My understanding is that Apple intends to play a more active role in promoting music, which could be disruptive.

If your most listened to artist releases a new song, Apple has more incentive to expose you to that music in hopes that you make a purchase. This is a basic functionality of broadcast radio that no online platform has adopted.

It’s also rumored that record labels want Apple to help them break new artists. If such artists are recommended to listeners that are likely to buy their songs, it could prove beneficial to everyone involved.

Obviously, this is a best case scenario. Apple may ruin their radio app by shilling artists, causing listeners to grow ambivalent. The downfall of Ping, after all, was that Apple sold too hard.