AppAdvice says that Apple is on the verge of releasing a complete re-downloading and perhaps streaming service name as iTunes Replay as what mentioned by the site.
iTunes Replay is an annex to what Apple is already working with iCloud and free re-downloads of earlier purchased music. As Apple confirmed the remaining rights of TV shows or Movies in iTunes, a little though will be spent as whether they are eligible for iTunes Replay and after it has been confirmed they can download content a number of times.
However, some content will only be available to download may be five times at maximum and still don’t know as how streaming will be counted.
AppAdvice also says that the new service can work for purchase from January 1st, 2009. For now the name iTunes Replay is being used within the company but it is likely that the same will be kept for the public. There is a chance about Apple adding the ability to re-download music as standard of iTunes Replay.