Google to compete with iTunes, Netflix, and Amazon?

http://hothardware.com/News/Google-Rumored-To-Have-YouTubeBased-Movie-Streaming-Service-On-Deck/

Unfortunately, the link doesn't contain any sourced material... so this is all speculation at this point. I thought, with our recent discussion about the pros and cons of a Google monopoly, that this article would be particularly relevant. Apparently, the brains at Google have been trying to devise an application that would rival the music player iTunes. Along with a music application, Google has been "in talks" with some of the movie studios about streaming new releases online for a subscription price.

This shouldn't be hard to believe, as Google is dominating annual profits. We discussed why Google found need to have things like Docs, Gmail, and other add-ons that do not profit the company directly -- these rumored services would finally address that. What I think Google is trying to do is become more vertically integrated. Starting with just a search engine, the company is trying to almost mirror Apple, which went from simply computers sales to a range of different things like iTunes, Apple TV, iPads, and iPhones. Google, with this setup of different services, is trying to attract more consumers with the attraction being: search engine, e-mail, music playing, and film streaming all from one centered service. This connectivity and synergy is probably designed to give users a higher sense of security and cohesiveness.

Your thoughts?