A couple of months ago Apple acquired Lala.com, and today they've announced the online music service will close its doors on May 31st, 2010. TechCrunch speculates Apple may use this acquisition to create a cloud-based iTunes.
An iTunes-in-the-cloud offering – which is basically what Lala’s value proposition boils down to – is the central part of such an endeavor. Late last year, we wrote about how a move to the cloud was inevitable for iTunes. With the imminent shutdown of Lala, it’s safe to assume something is brewing at Cupertino.
Will Apple be the first company to turn online music subscription services into a sizable business?