Apple Announces iTunes Radio

At today's developers' conference Apple announced the launch of iTunes Radio, a streaming service that will compete with Pandora and Spotify.  Via Gizmodo:

Apple has finally announced its online streaming and music discovery service. This is how millions of people will listen to music from now on. What we're looking at here is a Pandora-like radio service that's built directly into the iTunes Music app. It's built into iOS 7, works on iPhone and iPad and iPod Touch. It's even built into iTunes on your Mac and Apple TV. It's free with advertisements, or you can get it for free if you're an iTunes Match subscriber.