Apple today introduced iTunes 10 with Ping, a new music-oriented social network for following your favorite artists and friends to discover what music they’re talking about, listening to and downloading. iTunes Ping lets you post your thoughts and opinions, your favorite albums and songs, the music you’ve downloaded from iTunes, plus view concert listings and tell your friends which concerts you plan to attend. iTunes 10 also features HD TV show rentals for just 99 cents an episode and AirPlay wireless music playback.

“iTunes is the number one music community in the world, with over 160 million iTunes users in 23 countries, and now we’re adding social networking with Ping,” said Steve Jobs, Apple’s CEO. “With Ping you can follow your favorite artists and friends and join a worldwide conversation with music’s most passionate fans.”

With iTunes 10, you can rent your favorite HD TV shows commercial free from ABC, ABC Family, Fox, Disney Channel and BBC America and watch them at home or on the go for just 99 cents an episode. Thousands of episodes are available, many the day after broadcast, to watch on your Mac or PC, iPhone, iPod touch and the all-new Apple TV, and you have 30 days from the moment you rent an episode to start watching it, and 48 hours after that to finish it.

iTunes 10 also features AirPlay wireless music playback to listen to your music on remote speakers using Apple’s AirPort Express base station. In addition, AirPlay now works without AirPort Express, using speakers, receivers and stereo systems from companies including Bowers & Wilkins, JBL, Denon and iHome, so you can enjoy your entire iTunes music library wirelessly from any room in the house with no extra gear required.

iTunes is available as free download on Apple’s website or via Software update feature.