The recently announced Xbox Music service will feature both a subscription-based model and the ability to purchase individual tracks, according to a Bloomberg report. The service will reportedly allow users to stream music for a monthly or yearly subscription, in addition to traditional purchases.

Furthermore, an "online locker" of sorts may allow customers to store their music collections online for a fee, with the really intriguing part being that the locker could store music purchased from other services as well. As previously announced, said music will be playable across a range of devices, notably those that run Windows 8.

In other words, it sounds like Xbox Music will offer similar functionality to what is currently offered by the Zune service, with the added benefit of having a name that isn't associated with grim failure.