Apple recently announced that iTunes will be replaced by four separate apps - Apple Music, Apple TV, Apple Podcasts and Apple Books.
All existing features, including the iTunes Store, will still remain.
Purchased and imported music and playlists will be available in the new apple music app. Audiobooks will appear in the new Apple Books app.
The iTunes Store will continue to be available as a download store within the music app.
More information about the update can be found here.
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on Apple Music.