The rapper and producer topped the Forbes highest-paid musicians list last year thanks to his hugely successful Beats By Dre brand of headphones.
Now MTV reports that Dre and Beats co-founder Jimmy Iovine are to launch Daisy, a new streaming music service that will allow listeners to stream up to 12m songs with a paid subscription.
Iovine said of current music streaming services: "Right now, these things are all utilities. It's give me your credit card, here's 12 million songs, good luck. We have an entire generation that was brought up on sound being inferior, and sound is the only conduit for emotion that we have.
"We've had ten very bad years in the audio industry. So we want the best possible quality, and it will have global scale. So it will be a balance of those things."
[Beats By Dre]
Ian Rogers, the former CEO of Topspin, an online marketing software platform for musical artists, has been brought in by Dre and Iovine to oversee Daisy, as well as establish a new strategic link between Beats and Topspin.
Rogers said of Daisy: "We have the opportunity to create a trusted brand in music. To be honest, we'll release the product when it's ready, but we're looking at the second half of this year."
Dr Dre's long-awaited third album Detox, which the 47-year-old began work on in 2001, still sees no sign of being released, with 50 Cent last year claiming he's unsure it will ever see the light of day.
Watch Dr Dre's video for 'Forgot About Dre' below: