Ever since Google IO, whispers of Google Music and when the service will go active have been getting louder as time goes on. Reuters now has word that Google Music will (hopefully) be up and running by Christmas. The only problem hindering the process is Google’s lack of deals with record labels. Fret not though music lovers, record execs that are willing to pipe up (as anonymously as it may be) have good things to say:

“Finally here’s an entity with the reach, resources and wherewithal to take on iTunes as a formidable competitor by tying it into search and Android mobile platform. What you’ll have is a very powerful player in the market that’s good for the music business.”

As nice as those words sound, if Google wants to compete in the digital music marketplace they need get their act together fast. As of right now, Apple’s iTunes Music Store accounts for 70% of all US digital music sales. After 3 years of Amazon’s digital music sales, they’re market share resides at around 12%. Obviously, Google will have some catching up to do. Thanks to Android’s over 200,000 handset activations a day, that shouldn’t be hard.

Via BGR