The mission statement of Beats by Dr Dre speaks volumes for the headphones and speakers it offers. With their innovation in the music world, " people are going to hear what the artists hear, and listen to the music the way they should. Founded barely 6 years ago in 2006, the Santa Monica based store is now a leading company with their headphones forming around 53 percent of the market transactions of products in the same category.
A hip-hop/rap musician, Dre's real name is Andre Young. He and his partner introduced his first head phones in the market in partnership with Monster Cable. His partner is Jimmy Lovine who is the chairman of Interscope-Geffen-A&M Records. The head phones presented by them could play the entire spectrum of sounds that is accessible only in professional studios. At first the two friends were considering the production of speakers. They ended up making head phones instead because Monster Cable thought it to be more profitable. This is now a prominent brand, and leading its competitors so far.
Later they also started selling speakers of studio quality. Their latest product is Beatbox portable which can be taken anywhere. They are now working in partnership with many electronic manufacturers like HP, HTC and Chrysler. They have given licenses to these companies to install their brands in their products. Today HTC smartphones are fitted with this audio system. HP Envy laptops also have these installed in them. Chrysler 300S Luxury cars have now got their audio products fitted in them.
The initial contract of this company with Monster expired early this year. After that they became partners with HTC. It is interesting to know that HTC owns over half of the shares of this company. The two pioneering entrepreneurs, Young and Lovine hold only small shares.
Regardless of the smaller shares, Beats is still an independent, self reliant body. They have now got the acquisition of the online music service, MOG. Acronym for Music on the Go, MOG provides superior online music services.
Popular musicians have remained part of their advertising campaign. This helped attract youth to their products. Now their market has been expanded to older people as well as professionals. The installation of Beats audio system in Chrysler has helped significantly in expanding their target market.
Beats by Dr Dre has managed to become a leading and top contributing company within a short time span of barely six years. Other companies are improving their products to match their innovation. Let's see for how long are they able to maintain their status as the ace.
A hip-hop/rap musician, Dre's real name is Andre Young. He and his partner introduced his first head phones in the market in partnership with Monster Cable. His partner is Jimmy Lovine who is the chairman of Interscope-Geffen-A&M Records. The head phones presented by them could play the entire spectrum of sounds that is accessible only in professional studios. At first the two friends were considering the production of speakers. They ended up making head phones instead because Monster Cable thought it to be more profitable. This is now a prominent brand, and leading its competitors so far.
Later they also started selling speakers of studio quality. Their latest product is Beatbox portable which can be taken anywhere. They are now working in partnership with many electronic manufacturers like HP, HTC and Chrysler. They have given licenses to these companies to install their brands in their products. Today HTC smartphones are fitted with this audio system. HP Envy laptops also have these installed in them. Chrysler 300S Luxury cars have now got their audio products fitted in them.
The initial contract of this company with Monster expired early this year. After that they became partners with HTC. It is interesting to know that HTC owns over half of the shares of this company. The two pioneering entrepreneurs, Young and Lovine hold only small shares.
Regardless of the smaller shares, Beats is still an independent, self reliant body. They have now got the acquisition of the online music service, MOG. Acronym for Music on the Go, MOG provides superior online music services.
Popular musicians have remained part of their advertising campaign. This helped attract youth to their products. Now their market has been expanded to older people as well as professionals. The installation of Beats audio system in Chrysler has helped significantly in expanding their target market.
Beats by Dr Dre has managed to become a leading and top contributing company within a short time span of barely six years. Other companies are improving their products to match their innovation. Let's see for how long are they able to maintain their status as the ace.
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