Beats Music shut down date: Apple will close the only Apple Music competitor it has on Nov. 30

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At barely two years old, the subscription-based online music streaming service Beats Music is set to make its final bow on November 30, Entertainment Weekly reports. First launched in the United States with the codename "Daisy", Beats Music was founded by Interscope Records' Jimmy Iovine and award-wnning rapper and producer Dr. Dre.

In 2012, The Verge reported that Nine Inch Nails' Trent Reznor joined the project as Chief Creative Officer for the service that "ses mathematics to offer suggestions to the listener... [but also] would present choices based partly on suggestions made by connoisseurs, making it a platform in which the machine and the human would collide more intimately."

Reznor said that it's "like having your own guy when you go into the record store, who knows what you like but can also point you down some paths you wouldn't necessarily have encountered."

In May 2014, Apple announced that they were set to acquire both Beats Music and Beats Electronics, the makers of the popular Beats headphones, speakers and audio software. According to the press release, "As part of the acquisition, Beats co-founders Jimmy Iovine and Dr. Dre will join Apple. Apple is acquiring the two companies for a total of $3 billion, consisting of a purchase price of approximately $2.6 billion and approximately $400 million that will vest over time."

"I’ve always known in my heart that Beats belonged with Apple," Iovine said of the acquisition. "The idea when we started the company was inspired by Apple’s unmatched ability to marry culture and technology. Apple’s deep commitment to music fans, artists, songwriters and the music industry is something special."

However, Apple has decided to shut down Beats Music, most likely because of their newly launched Apple Music, which they launched in June.

CNET reports that come November 30, all beats subscriptions will be canceled, which is why Apple is encouraging Beats Music users to migrate their profiles to Apple Music.

"All the pros that curated music for you are still crafting more amazing experiences," Apple announced. "Plus, on Apple Music, you'll get even better recommendations based on music you already listen to and love, 24/7 global radio with Beats 1, exciting material from your favorite artist, and more."

Apple Music is the company's first venture into music subscription for their customers, and the first to run on Google Android's operating system as well, just like Beats Music. Since its launch in June, Apple Music has garnered 6.5 million paying subscribers and 8.5 million people making use of its 90-day free trial. Spotify, one of the largest music streaming services today, currently has 25 million paid subscriptions and 50 million users who listen for free.