That has been confirmed by multiple sources, including celebrity tweets and the existence of music.twitter.com.
Expectations are for a public announcement to come out sometime this next week.
It is unclear how much the site will compete with other music hosts such as Spotify, but it definitely will.
As long as it is well built, it could easily become the top music streaming service, due to Twitter's ever growing popularity.
I just hope that it is playable outside of the US. I can't use Spotify yet here in Canada.
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