Google is in talks with record labels over plans to launch its own subscription music streaming service, according to reports this weekend.

The Financial Times said The Big G is looking to take on successful subscription platforms like Spotify, Rdio and Deezer, while also differentiating itself from Apple and Amazon's approach to music.

According to the report, Google will follow the freemium business models employed by the established streaming giants that allow free listening, but a premium subscription service for access-all-areas music.

Early speculation has suggested that Google would be looking to pre-install the service on Android smartphones and tablets like the Nexus 4 and Nexus 7.

Third time lucky?

Google has tried, and somewhat failed, with its attempts to diversify into the music industry. The Google Music storage locker has been a complete flop, while the Android-based download store is hardly iTunes.

The company has traditionally found it more difficult when attempting to court favour among record industry big wigs, who still see the search company as a means of enabling music piracy.

The company was criticised by the Recording Industry Association of America earlier this week for linking to pirate sites after claiming they'd be blacklisted.

A follow up report from The Verge later on Friday night backed up the FT's claims but said that no service will be launched until Q3 2013. Perhaps it's going to take a while to get Sony, Warner and co on board?

Via FT