E3: Microsoft announces Xbox Music

(CBS News) Microsoft announced Monday at the Electronic Entertainment Expo in Los Angeles that the company will launch a new music service called Xbox Music.

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The new music service will make 30 million tracks available on the Xbox 360 video game console, as well as Windows 8 PCs, phones and tablets, CNET reports.

It's not clear if the news will mean the end Zune Music, which is currently the main music service on the Xbox 360.

Xbox Music is said to compete with music streaming services like iTunes Match, Spotify and Pandora. Xbox Music will in direct competition with Sony Entertainment Network, formerly Qriocity, which is Sony's streaming music and movie service that runs on the PlayStation 3, Android and iOS devices.

There are currently no details about the pricing structure for Xbox Music. Currently, Zune Music passes sell for $99.90 annually or $9.99 per month.