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Dear Spotify, Rhapsody and any other music-streaming service out there: Here comes Google.

The Wall Street Journal and now Bloomberg are reporting that Google is planning to launch a worldwide music streaming service in Q3 of this year. Google is reportedly talking to music companies about licenses for the service, which mimics that of Spotify.

Spotify currently has access to more than 20 million songs and has over five million paid subscribers. It costs $9.99 per month for unlimited listening and allows free, ad-supported streaming.

Google’s streaming service would follow a similar model. The company is already in the music space with has Google Music, which competes with iTunes and allows users to store music and buy new songs.

There are several other competitors in this space, including Pandora and Seattle-based Rhapsody, who has one million paid members and just debuted its new app for Windows Phone 8. There are also rumors of Apple launching its own Pandora-like radio service.

Previously on GeekWire: Rhapsody app arrives for Windows 8 

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