July 9, 2012, 10:34 AM

Beats Electronics will buy the Mog digital music service

The acquisition is Beats’ first since rapper Dr. Dre cofounded it in 2008.

Lead Photo

Beats Electronics LLC, which sells headphones, speakers, and audio systems to consumers, will buy the digital music service Mog. Beats did not say how much it will pay for Mog.  

Rap artist and producer Dr. Dre founded Beats with Jimmy Iovine, chairman of Interscope Geffen A&M Records, in 2008. The Mog deal is the first acquisition for Beats.

“[Beats] was never about just headphones. We’ve since expanded the Beats mission to every other link in the music experience chain—speakers, mobile phones, personal computers and automobile sound systems,” says Luke Wood, Beats president and chief operations officer. “With Mog, we are adding the best music service to the Beats portfolio for the first truly end-to-end music experience.”

Mog streams more than 15 million songs to listeners via any Internet-enabled device, including smartphones, TVs, Blu-ray players and car stereo systems. Mog will continue to operate as its own unit, without service interruptions for subscribers, Beats says. Mog CEO David Hyman will report directly to Wood. “We’re thrilled to be joining forces with Beats, a company that’s committed at the highest level to the experience surrounding music delivery,” Hyman says.

Beats Electronics sells the ‘Beats by Dr. Dre’ headphones line and Beats Audio HD-sound systems.

comments powered by Disqus

Advertisement

Advertisement

Advertisement

From IR Blogs

FPO

Ernie Diaz / E-Commerce

Can Tencent win the mobile commerce battle with Alibaba?

The two Chinese Internet giants are increasingly encroaching on each other’s territories. A Beijing-based marketing ...

FPO

Matt Swan / E-Commerce

Do cash-back sites really drive incremental sales?

Yes, suggest data from Affiliate Window, an affiliate marketing network. And consumers spend more when ...

Advertisement