Many seemed worried about the news that Apple will remove the iTunes Music. But the Cupertino-based company allegedly debunked the rumors.

Apple spokesperson Tom Neumayr simply said that it is "Not true" without further elaboration according to Recode. More than that, CNET added that the company did not respond to a written request for a definitive statement.

The rumor mill was allegedly created by Digital Music News, claiming that the giant tech company will abolish the said program, as per the latter source once again. However, the possibility is thin since Apple generates quite a fair amount of income from iTunes Music.

According to Bloomberg, two finance experts stated that the profit from the said program is steady at estimated of $3.5 billion dollars. However, the sales have been down from $3.9 billion in 2009,hence Digital Music News speculated a possible closure.

But it looks like the future of the iTunes Music is still bright. music industry analyst Mark Mulligan at Canadian Music Week has estimated that Apple could gain an additional of $600 million in the program alone, reported CNET.

Given the justifiable income, it looks like Apple will not remove the iTunes Music any time soon. But the loyal users must expect of the changes that the company will make to make it more simple and user-friendly.