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Apple Unveils iTunes Radio at Worldwide Developers Conference

The Internet service, which allows for customized stations, sounds a lot like Pandora

iTunes Radio will be available in your App Store this fall, Apple announced Monday at the Worldwide Developers Conference.

The free Internet radio service will have many of the same functions as Pandora and Spotify, allowing users to customize stations around a song or artist. There will also be more than 200 pre-programmed channels.

Apple is doing its best to differentiate its product from those of its predecessors, which already have market share. 

"iTunes Radio will also be home to special events including live streams direct from the iTunes Festival in London and other exclusive iTunes Sessions," Apple said Monday in a statement.

Also read: Apple CEO Tim Cook on Making Game-Changers: 'We're Still That Company' 

Of course, Apple has to make money, so beyond the ability to "thumbs-up" a track you like, a user can also purchase songs that he or she streams with one click. Then there's the ad-support revenue. A user can skip commercials by upgrading to the ad-free iTunes Match for $24.99 a year.

Apple's radio service will require the new mobile operating system iOS 7, which CEO Tim Cook called, "the biggest change to iOS since the introduction of the iPhone."

At the conference, Apple executives also announced the OS X Mavericks for Mac desktops, which will support multiple monitors, have an iCloud Keychain for managing multiple passwords, a redesigned calendar and improved battery life.

The new Macbook Air is being billed as having "all day" battery life, and the faster Macbook Pro is expected to be the most powerful ever.