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Apple to Acquire Beats Music & Beats Electronics for a total of $3 Billion 2014.06.01

Cupertino, California, USA - May 28, 2014 - Apple today announced it has agreed to acquire the critically acclaimed subscription streaming music service Beats Music, and Beats Electronics, which makes the popular Beats headphones, speakers and audio software. As part of the acquisition, Beats co-founders Jimmy Iovine and Dr. Dre will join Apple. Apple is acquiring the two companies for a total of $3 billion, consisting of a purchase price of approximately $2.6 billion and approximately $400 million that will vest over time.

3rd St. Promenade, Santa Monica, California, USA.
Courtesy of Apple

 

Cupertino, California, USA - May 28, 2014

Apple® today announced it has agreed to acquire the critically acclaimed subscription streaming music service Beats Music, and Beats Electronics, which makes the popular Beats headphones, speakers and audio software.

As part of the acquisition, Beats co-founders Jimmy Iovine and Dr. Dre will join Apple.

Palo Alto, California, USA.
Courtesy of Apple
 
Apple is acquiring the two companies for a total of $3 billion, consisting of a purchase price of approximately $2.6 billion and approximately $400 million that will vest over time.

Tim Cook, Apple’s CEO.
Courtesy of Apple
 
“Music is such an important part of all of our lives and holds a special place within our hearts at Apple,”
said Tim Cook, Apple’s CEO.
“That’s why we have kept investing in music and are bringing together these extraordinary teams so we can continue to create the most innovative music products and services in the world.”

Jimmy Iovine, the Chairman of Universal Music Group’s Interscope Geffen A&M Records unit, and co-founder of Beats Electronics is regarded as both a legendary figure in the music industry as well as a forward-thinking visionary.
Courtesy of
Beats Electronics
 
“I’ve always known in my heart that Beats belonged with Apple,”
said Jimmy Iovine.
“The idea when we started the company was inspired by Apple’s unmatched ability to marry culture and technology. Apple’s deep commitment to music fans, artists, songwriters and the music industry is something special.”

Fifth Avenue, New York, USA.
Courtesy of Apple
 
Iovine
has been at the forefront of innovation in the music industry for decades, and he has been an instrumental partner for Apple and iTunes® for more than a decade.

He has produced or collaborated with some of the most successful artists in the history of the iTunes Store®, helping make it the world’s number one music retailer.

Dr. Dre is regarded as modern music’s greatest perfectionist.
“We go until it happens,” he told the Los Angeles Times of his work ethic in the studio, which has paid off in over a billion dollars in sales of his productions and performances.
Critically and commercially acclaimed, Dre has built a signature sound that is instantly recognizable whether he’s working with Eminem or Burt Bacharach.
Courtesy of
Beats Electronics
 
Iovine
and Dr. Dre are sound pioneers, artists and entrepreneurs.

Beats Electronics has brought the energy, emotion and excitement of playback in the recording studio back to the listening experience and has introduced an entirely new generation to premium sound entertainment.

Beats Music was developed by a team of people who have each spent their entire career in music and provides music fans with an incredible curated listening experience.


Eddy Cue, Apple’s senior vice president of Internet Software and Services.
Courtesy of Apple
 
“Music is such an important part of Apple’s DNA and always will be,”
said Eddy Cue, Apple’s senior vice president of Internet Software and Services.
“The addition of Beats will make our music lineup even better, from free streaming with iTunes Radio to a world-class subscription service in Beats, and of course buying music from the iTunes Store as customers have loved to do for years.”

Courtesy of Beats Electronics
 
In just five years since launch, the Beats “b” has become the brand of choice in the music and sports worlds, and is the market leader in the premium headphone market.

Music superstars including Lady Gaga, Lil Wayne and Nicki Minaj have designed their own customized Beats headphones and speakers.

Courtesy of Beats Electronics
 
Fashion designers and street artists such as Alexander Wang, Futura and Snarkitecture have collaborated on special limited products, while renowned athletes including LeBron James, Serena Williams and Neymar use Beats as a critical part of their training and game day process.

Beats has quickly become part of pop culture in the US and with the acquisition the Beats product lineup will be offered in many more countries through the Apple Online Store, Apple’s retail stores and select Apple Authorized Resellers.

Courtesy of Beats Electronics
 
Subject to regulatory approvals, Apple expects the transaction to close in fiscal Q4.

Formally established in 2008 as the brainchild of legendary artist and producer Dr. Dre and Chairman of Interscope Geffen A&M Records Jimmy Iovine, Beats Electronics (Beats) comprises the Beats by Dr. Dre family of premium consumer headphones, earphones, and speakers as well as patented Beats Audio software technology and streaming music subscription service Beats Music.

Through these offerings, Beats has effectively brought the energy, emotion and excitement of playback in the recording studio to the listening experience and has introduced an entirely new generation to the possibilities of premium sound entertainment.

Courtesy of Beats Electronics
 
Beats Music
is a subscription streaming music service that focuses on providing a personalized music experience for each user through a unique blend of digital innovation and musical passion.

Programmed by a trusted team of well-respected music experts with over 300 years of experience across all genres, Beats Music delivers the right music for any situation, any time, and any preference, personalized to your tastes.

The result is an artist-friendly digital music service that does more than simply offer access to music, but one that establishes an emotional connection to it as well.

Apple designs Macs, the best personal computers in the world, along with OS X, iLife, iWork and professional software.

 
 
Apple
leads the digital music revolution with its iPods and iTunes online store.

Apple has reinvented the mobile phone with its revolutionary iPhone and App Store, and is defining the future of mobile media and computing devices with iPad.


Press Contacts:

Tom Neumayr
Apple

tneumayr@apple.com  
(408) 974-1972

Sarah Joyce
Beats

Sarah.Joyce@beatsbydre.com  
(310) 795-4757


Source: Apple Press Info

http://www.apple.com/pr/  



ASTROMAN Magazine - 2014.04.04

Apple Worldwide Developers Conference Kicks Off June 2 at Moscone West in San Francisco

http://www.astroman.com.pl/index.php?mod=magazine&a=read&id=1690  


ASTROMAN Magazine - 2014.01.21

Apple Expands Worldwide Access to Educational Content

http://www.astroman.com.pl/index.php?mod=magazine&a=read&id=1639  


ASTROMAN Magazine - 2013.10.26

Apple Announces iPad Air - Dramatically Thinner, Lighter & More Powerful iPad

http://www.astroman.com.pl/index.php?mod=magazine&a=read&id=1577  


ASTROMAN Magazine - 2013.10.15

Angela Ahrendts to Join Apple as Senior Vice President of Retail and Online Stores

http://www.astroman.com.pl/index.php?mod=magazine&a=read&id=1573  


ASTROMAN Magazine - 2013.09.13

Burberry Uses iPhone 5s to Capture Spring/Summer 2014 Runway Show

http://www.astroman.com.pl/index.php?mod=magazine&a=read&id=1555  


ASTROMAN Magazine - 2013.06.01

Justin Timberlake, Thirty Seconds to Mars, Jack Johnson, Jessie J at iTunes Festival in London

http://www.astroman.com.pl/index.php?mod=magazine&a=read&id=1474  


ASTROMAN Magazine - 2013.05.19

Apple's App Store Marks Historic 50 Billionth Download

http://www.astroman.com.pl/index.php?mod=magazine&a=read&id=1464  


ASTROMAN Magazine - 2013.03.09

Apple Launches iBookstore in Japan

http://www.astroman.com.pl/index.php?mod=magazine&a=read&id=1416  


ASTROMAN Magazine - 2013.01.29

Apple Increases iPad with Retina Display to 128GB

http://www.astroman.com.pl/index.php?mod=magazine&a=read&id=1399  


ASTROMAN Magazine - 2012.09.16

Apple Introduces iPhone 5, New iPod touch & iPod nano and Unveils New iTunes

http://www.astroman.com.pl/index.php?mod=magazine&a=read&id=1316  


ASTROMAN Magazine - 2012.09.01

Craig Federighi and Dan Riccio Join Apple's Executive Team as Senior Vice Presidents

http://www.astroman.com.pl/index.php?mod=magazine&a=read&id=1306  


ASTROMAN Magazine - 2012.03.10

Apple Launches New iPad

http://www.astroman.com.pl/index.php?mod=magazine&a=read&id=1198  


ASTROMAN Magazine - 2012.02.18

Apple Releases OS X Mountain Lion Developer Preview with Over 100 New Features

http://www.astroman.com.pl/index.php?mod=magazine&a=read&id=1179  


ASTROMAN Magazine - 2012.02.04

John Browett Joins Apple as Senior Vice President of Retail

http://www.astroman.com.pl/index.php?mod=magazine&a=read&id=1164  


ASTROMAN Magazine - 2011.11.20

Apple Names Arthur D. Levinson Chairman of the Board

http://www.astroman.com.pl/index.php?mod=magazine&a=read&id=1105  



Editor-in-Chief of ASTROMAN magazine: Roman Wojtala, PhD.


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