It was a smart move for Apple to rebrand iTunes Radio and in the process, hire popular Canadan rapper Drake and possibly David Guetta and Pharell to become guest DJs in an effort to boost the popularity of the service. 

Rumors say that the deal with Drake will probably cost $19 million, and the company is willing to pay a huge amount just to bring iTunes back to the top.

This development was spurred by the low number of premium downloads. In order to increase this, the tech company will be revamping its planned subscription structure. 

Under the updated plan, users can pay $10 a month for premium content. Apple will also be offering a free, three-month free subscription. 

iTunes Radio has been in competition with Google's YouTube and Spotify. Since Spotify's launch in 2008, it continued gaining popularity up and has become a threat to Apple.

YouTube remains at the top in terms of music and video sharing in the industry.

Spotify has 15 million paying subscribers. Kevin Brown, Spotify's head of label relations in Europe revealed the present standing of the two competing music streaming platforms.

"Some of our partners are saying Spotify is now generating more revenue each month across Continental Europe than iTunes," Brown said.

"Given that download sales are declining and Spotify is growing rapidly, particularly in the UK, it is only a matter of time before Spotify is bigger than iTunes across Europe as a whole," he added.

Apple's plan of hiring celebrity DJs who are famous in the music industry will be helpful in the promotion of their new platform which is to be released soon.

Its plan to revitalize its music streaming services includes making a platform that will match YouTube called the Apple Connect. While Apple has not yet confirmed this report, this idea would be great and might even pose as a serious threat to existing video streaming sites.