The hip-hop legend and music mogul Dr Dre is currently waiting for his, and Jimmy Lovine's, Beats Electronics newest product to be released.

Beats Music is the name of a new streaming subscription service in the US which is set to launch on January 21st 2014.

This new service, which offers more than 20 million fully licensed songs from all major and independent labels, will be available for $10 a month.

The electronics company announced the launch of the new product this past Saturday via a statement.

"We wanted to build a music service that combined the freedom of an on-demand subscription service - unlimited, uninterrupted streaming and downloads of tens of millions of songs - but layer on top features that would give you that feeling only music that moves you can give," said Beats Electroncis, referring to the aim of Beats Music.

The product will fit to every music fans needs and can pick a song for a customer depending on their mood, location and desired genre, basically acting as a curator.

In a New York Times article, Jimmy Lovine explains, "What song comes next, is as important as what song is playing now."

U2's frontman, Bono, also expressed his thoughts on the new product, in an email which read, "There's so much music to hear online, people have become a bit deaf to the choices. Jimmy believes that Beats-style curation will become the discovery model that the music business is waiting for. I would never bet against him."

This could be a new revolutionary tool in how people decide to listen to music and it's expected to heat up the competition between Spotify, Pandora, Apple's new iTunes Radio and even YouTube, which does not charge for users to listen to music.

Dr Dre
Dr Dre's new product will be released on Jan 21st