Beats Electronics - Wikipedia. Beats Electronics is a subsidiary of Apple Inc. Headquartered in Culver City, California, U. The latest news articles from Billboard Magazine, including reviews, business, pop, hip-hop, rock, dance, country and more. Texarkana, Texas and Arkansas newspaper. Includes news, sports, opinion, and local information. The classic US stereotype of attempted Iranian ideological indoctrination via chants of “Death to America” and such has been old hat for quite some time. As noted. ![]() ![]() S.,[5] the company was founded by music producer and rapper Dr. Dre and former[6]Interscope Geffen A& M Records chairman Jimmy Iovine. The subsidiary's product line is primarily focused on headphones and speakers. The company's original product line was manufactured in partnership with the AV equipment company Monster Cable Products. Www.Vinylsearch.com complete INSTOCK list updated July 24, 2017. First Name Last Name or Group Format Genre Subgenre Album Title A Side Title B Side Title Label.Following the end of its contract with the company, Beats took further development of its products in- house. In 2. 01. 4, the company expanded into the online music market with the launch of its subscription- based streaming service, Beats Music. In 2. 01. 1, NPD Group reported that Beats' market share was 6. U. S for headphones priced higher than $1. US$1 billion in September 2. For a period, the company was majority- owned by Taiwanesesmartphone maker HTC. The company reduced its stake to 2. Concurrently, Carlyle Group replaced HTC as a minority shareholder, alongside Dr. Dre and Iovine in late 2. On August 1, 2. 01. Apple Inc. acquired Beats for US $3 billion in a cash and stock deal, the largest acquisition in Apple's history. History[edit]Formation[edit]Dr. Dre (seen in 2. 01. Jimmy Iovine & David Guetta. The company was formally established in 2. Iovine perceived two key problems in the music industry: the impact of piracy on music sales and the substandard audio quality provided by Apple's plastic earbuds. Iovine later recalled that Dre said to him: "Man, it's one thing that people steal my music. It's another thing to destroy the feeling of what I've worked on." Iovine sought the opinions of musicians with "great taste", such as M. I. A., Pharrell Williams, will. Gwen Stefani during the early developmental stage.[1. Beats initially partnered with Monster Cable, an audio and video component manufacturer based in Brisbane, California, to manufacture and develop the first Beats- branded products, and debuted its first product, Beats by Dr. Dre Studio headphones, in late 2. Since then Beats has come a long way, with many types including wireless. To promote its products, Beats primarily relied on endorsements by pop and hip- hop music performers, including product placement within music videos, and partnering with musicians and other celebrities to develop co- branded products.[1. Beats' use of endorsements by musicians helped the company aggressively target the young adult demographics.[1. HTC purchase and non- renewal of Monster contract[edit]In August 2. HTC acquired a 5. Beats for US$3. 09 million. The purchase was intended to allow HTC to compete with other cellphone makers by associating themselves with the Beats brand,[1. HTC exclusive rights to manufacture smartphones with Beats- branded audio systems.[1. Despite its majority acquisition, HTC allowed Beats to operate as an autonomous company.[1. Luke Wood, President of Beats in May 2. January 2. 01. 0, when the company was a "licensing business". Wood had previously worked under Iovine at Interscope Records.[1]On January 1. Business. Week reported that Beats and Monster would not renew their production contract and their partnership ceased at the end of 2. Dre and Iovine subsequently decided to oversee the entire operation of the company, from manufacturing to R& D,[1] and aimed to double its workforce to around 3. Monster would ultimately begin marketing its own competing line of premium headphones aimed towards an older demographic.[1. At the time, neither Dre, Iovine or Wood were experienced in the operation of a company at such a grand level, but Nani Wood explained in 2. I didn't have manufacturing experience, but I had experience of building something from scratch … Every time we put out an album, it was basically like building a new business- -a unique cast of characters, unique challenges and opportunities, and trying to figure out a unique path to market.[1]In October 2. Beats unveiled its first two self- developed products, "Beats Executive" headphones and "Beats Pill" wireless speakers—Iovine believed that the company would now have to "control [its] own destiny" in order to continue its growth. Iovine also commented on how other headphone makers had attempted to emulate Beats' celebrity endorsement business model (including Monster themselves, who unveiled Earth, Wind and Fire and Miles Davis- themed headphones at the 2. Consumer Electronics Show),[1. You can't just stick someone's name on a headphone that doesn't know anything about sound."[1. Following the decision to transform Beats into an autonomous entity, the company's revenues reached the US$1- billion mark, according to Iovine.[1]HTC sale and Beats Music[edit]In July 2. HTC sold back half of its stake in Beats for US$1. The sale was intended to provide "flexibility for global expansion while maintaining HTC’s major stake and commercial exclusivity in mobile."[1. In August 2. 01. 3, reports surfaced that Beats' founders planned to buy back HTC's remaining minority stake in the company, and pursue a new, unspecified partner for a future investment.[2. On September 2. 7, 2. HTC confirmed that it would sell its remaining 2. Beats back to the company for US$2. Concurrently, Beats announced that the Carlyle Group would make a US$5. The overall deal valued Beats Electronics at US$1 billion[7] and helped HTC turn a net profit of US$1. HTC's first quarterly loss in company history.[2. The appointment of a new chief operating officer (COO), a role previously filled by Wood,[1] was announced in early November 2. Matthew Costello, formerly of IKEA and HTC, was formally appointed into the role in May 2. On January 2. 1, 2. Beats Music, a subscription- based online music streaming service.[2. Prior to the launch of the service, Beats stated that it intends to provide a different type of streaming experience to what was available on the market at the time. Additionally, the service would only be available to consumers in the U. S. at inception.[2. Chief executive of Beats at the time, Ian Rogers, said: We wanted to build a music service that combined the freedom of an on- demand subscription service—unlimited, uninterrupted streaming and downloads of tens of millions of songs – but layer on top features that would give you that feeling only music that moves you can give. The right song at the right time will give you a chill. Make you pull someone close. Nod your head. Sing in the mirror. Roll down the car window and crank the volume to the right.[2. Subsidiary of Apple (2. On May 8, 2. 01. 4, the Financial Times reported that Apple was in negotiations with Beats to purchase the company for US$3. Apple's history, ahead of its US$4. Ne. XT in 1. 99. 6.[2. The impending deal was prematurely and indirectly revealed in a photo and You. Tube video posted to Facebook by Tyrese Gibson on May 8, 2. Gibson and Dr. Dre made boasting remarks about the acquisition, with Dre declaring himself the "first billionaire in hip hop", while Gibson declared that the "Forbes list" had changed. Both the photo and video were removed from Facebook the following morning, but both remain on Gibson's You. Tube channel.[1][3. Indeed, analysts estimated that the rumored deal would make Dr. Dre the first billionaire in the hip- hop music industry in terms of net worth, assuming that he held at least 1. Dr. Dre was listed with a net worth of US$5. Forbes' The World's Billionaires 2. It was also estimated that the Carlyle Group would receive a profit of US$1 billion from its minority stake in the company.[2. On May 2. 8, 2. 01. Apple officially announced its intention to acquire Beats Electronics for US$3 billion—with $4. Apple stock and the remainder in cash. Some reports suggested that the reduction in value may have been a result of lower- than- expected subscriber numbers for the Beats Music service.[1] Iovine felt that Beats had always "belonged" with Apple, as the company modeled itself after Apple's "unmatched ability to marry culture and technology." In regard to the deal, Apple CEO Tim Cook stated that "Music is such an important part of all of our lives and holds a special place within our hearts at Apple.
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