. The app as you know it — regular ol' iTunes — is being replaced by three apps, including Apple Music, Apple TV and Podcasts.
Note that the change only affects Mac users, according to media reports. Windows users will still use iTunes. While iTunes the app is dead on the Mac, the store will live on. You'll still be able to use any iTunes gift cards you may have sitting around to buy new music or apps or movies and TV shows. You'll just need to open the iTunes Store from the left side-panel inside the Music app, or open the equivalent stores in the TV or Podcasts app, to buy new content
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