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Beats Music acquired by Apple to create something like Spotify

Because iTunes service has been criticized for its user interface, Apple decided to use some outside help

May 11 2014, 3:11am CDT | by

11 Updates
Beats Music acquired by Apple to create something like Spotify
 
 

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Beats Music acquired by Apple to create something like Spotify

So it did come as a surprise when Financial Times announced that the deal between Apple and Beats Electronics had been finalized and at a whopping sum of $3.2 billion, this marks the biggest and the most expensive deal that Apple has ever made. This “high quality” headphones maker founded by music producer Jimmy Iovine and hip-hop artist Dr. Dre has now become part of Apple and Dr. Dre and Iovine have joined Apple as the company’s executives.

Now everyone has been wondering why exactly would Apple be interested in Beats? It is pretty simple. With all the growing popularity of the streaming music services like Spotify, Pandora and Rdio, Apple realized that now was the perfect time to recharge its ‘cool’ factor. Though the iTunes service had been doing quite well for a very long time and no doubt it dominated the music world for a long time but eventually Apple had to evolve in one way or the other. And also, Apple’s flagship music brand iTunes has been criticized over its user interface and so this makes sense why Apple would want some outside help.

With $150 billion in cash and investments, this $3.2 billion deal was nothing that Apple couldn’t afford though it is thrice as large as any other deal that Apple has ever done. However, we aren’t really sure whether Steve Jobs would have made the decision or not because he was always proud of Apple’s ability to build everything from within the company.

“I knew people were going to dig it, but I didn’t know it was going to be this big,” Dre told TIME in a recent interview. “I didn’t know it was going to be at this magnitude. I know that people really care about the way their music sounds. So did I know it was going to work? Yeah, but I had no idea it was going to be this massive.”

source: time

 

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Update: 11

Beats Pill Mascots and Siri Join Forces in New 'Apple and Beats' Video [Mac Blog]

Source: MacRumors

Beats Electronics today posted a new video to its Twitter account, celebrating Apple's acquisition of the company alongside Beats Music. The short video (via 9to5Mac) features Beats Pill mascots Tina and Mikey excited about the acquisition, with Siri informing the two that Dr. Dre would be having a party to celebrate. When the two ask Siri for directions to the party, Siri informs them that the party ...
Source: MacRumors   Full article at: MacRumors 1 hour ago
 


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Update: 10

Beats' Subscription Music Guru Will Now Run iTunes Radio At Apple (AAPL)

Source: Business Insider

iTunes Radio is getting an infusion of talent in the form of Ian Rogers, the Beats Music CEO who has been chosen to lead the group, according to a Wall Street Journal report. Apple announced Friday it had closed the Beats acquisition with an update on its website. In addition to Rogers, Apple will also gain Beats co-founders Jimmy Iovine and Dr. Dre as employees. "Beats cofounders Jimmy Iovine a ...
Source: Business Insider   Full article at: Business Insider 5 hours ago, 4:55pm CDT
 

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Update: 9

Apple taps Beats Music CEO as iTunes Radio's band leader

Source: CNet

Subscription-streaming service Beats Music and iTunes will continue to stand on their own -- for now -- even as Ian Rogers, the CEO of the Beats Music, takes the the helm ...
Source: CNet   Full article at: CNet 5 hours ago, 4:52pm CDT
 

Update: 7

Apple taps Beats Music CEO as iTunes Radio's band leader

Source: Car Craft

Subscription-streaming service Beats Music and iTunes will continue to stand on their own -- for now -- even as Ian Rogers, the CEO of the Beats Music, ...
Source: Car Craft   Full article at: Car Craft 5 hours ago, 4:52pm CDT
 

Update: 6

Apple Completes $3 Billion Beats Deal

Source: Latino Review

Beats Electronics and Beats Music is now officially part of Apple. In a “Welcome to the family” post on its website Friday, Apple said that the $3 billion has officially closed. “Today we are excited to officially welcome Beats Music and Beats Electronics to the Apple family,” it wrot ...
Source: Latino Review  Full article at: Latino Review 6 hours ago, 4:25pm CDT
 

Update: 5

Apple Completes $3 Billion Beats Deal

Source: variety

Beats Electronics and Beats Music is now officially part of Apple. In a “Welcome to the family” post on its website Friday, Apple said that the $3 billion has officially closed. “Today we are excited to officially welcome Beats Music and Beats Electronics to the Apple family,” it wrote. “Music has always held a special... Read more » ...
Source: variety   Full article at: variety 6 hours ago, 3:59pm CDT
 

Update: 4

WSJ: Beats Music head Ian Rogers to take charge of iTunes Radio

Source: MacNN

Beats Music head Ian Rogers will also take charge of iTunes Radio as a part of Apple's acquisition of Beats, sources tell the Wall Street Journal. The people add that having Rogers in charge of both units is intended to generate cohesion in Apple's streaming music options. How exactly that might manifest is unclear, but the Journal speculates that Apple may implement new subs ...
Source: MacNN   Full article at: MacNN 7 hours ago, 3:38pm CDT
 

Update: 3

Beats Music chief may now be on the hook for making iTunes Radio a success

Source: Tech.co.uk

Both Beats Music and iTunes Radio have reportedly struggled to attract the anticipated listenership since arriving on the stream scene and now it appears their fortunes will rest on the shoulders of one man.According to the Wall Street Journal, Ian Rogers, the head of Beats Music will also take the reins at iTunes Radio following the completion of the $3 billion Apple-Beats takeover on Friday. Rogers, who will join Apple alongside co-founders Dr Dre. and Jimmy Iovine, w ...
Source: Tech.co.uk   Full article at: Tech.co.uk 7 hours ago, 2:59pm CDT
 

Update: 2

Apple Finalizes Acquisition of Beats Electronics

Source: EURweb

*Apple has announced that it has finalized its $3 billion acquisition of Beats Electronics and Beats Music, two months after declaring its interest in the company. The deal was already as good as wrapped up, but only today (August 1) received the US government’s seal of approval. The ...
Source: EURweb   Full article at: EURweb 7 hours ago, 2:45pm CDT
 

Update: 1

Brains behind subscription Beats Music to also oversee Apple's iTunes Radio

Source: AppleInsider

Beats Music CEO Ian Rogers will assume control of Apple's iTunes Radio service, according to a new report, uniting both of Apple's streaming music services under a single executive as the company gears up for a renewed assault on incumbent industry leader Spo ...
Source: AppleInsider   Full article at: AppleInsider 8 hours ago, 2:41pm CDT
 

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<a href="/latest_stories/all/all/32" rel="author">Ahmed Humayun</a>
Ahmed Humayun is a technology journalist bringing you the hottest tech stories of the day.

 

 

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