Apple, Inc., The Electronics And Beats Music - 1263 Words

Apple acquires Beats. Apple, Inc., the electronics giant, has acquired Beats Music and Beats Electronics, the headphones giant, for $3.2 billion. Apple has enough money to buy or build any company they want to from ground up. So, why did Apple acquire Beats Electronics and Beats Music? According to NBC News, Apple CEO Tim Cook told Re/Code that the company could build about anything that you could dream of, adding that acquiring Beats would give them a head start and add kindred spirits to company (Wagstaff, 2014). Given the years of musical experience that both Dr. Dre, a well-known legendary artist and music producer and Jimmy Iovine, the Chairman of Interscope Geffen AM Records have and the energy they have brought to the hip-hop and pop cultures, it is no wonder that Apple would have made the decision to acquire Beats Electronics and Beats Music. In just six years, Dr. Dre and Iovine has sealed the whole consumer market for high-end headphones. Beats also unleashed Beats M usic, a streaming music service. The negotiations take place at a critical time: the music market has seen a massive shift towards streaming and away from downloads. U.S. revenue from downloads -- which iTunes dominates -- dropped 1 percent to $2.8 billion in 2013, while streaming music revenue from the likes of Pandora and Spotify soared 39 percent to $1.4 billion, according to the Recording Industry Association of America (CBS News/AP, 2014). Beats Music will allow Apple to competeShow MoreRelatedFinancial Evaluation Of Beats By Dr. Dre Essay1409 Words   |  6 PagesFor my final essay, I am going to discuss the financial evaluation of Beats by Dr. Dre. Beats by Dr. Dre was founded by music producer and rapper Dr. Dre along with business partner Jimmy Iovine from Interscope Geffen AM Records chairman in 2006 with the leading audio headphones on the market. The company has created a range of models of headphones and speaker that are now integrated into vehicles. The company has brought on celebrity sponsors to advertise and join the team with their creating likeRead MoreBusiness Merger Between Apple And Beats2057 Words   |  9 Pages Business Combination between Apple and Beats Details of Company Acquired Apple Inc. is an American multinational technology company headquartered in Cupertino, California, that designs, develops, and sells consumer electronics, computer software, and online services. Their hardware products include the iPhone smartphone, the iPad tablet computer, the Mac personal computer, the iPod portable media player, and the Apple Watch smartwatch. Beats Electronics is a company which product line is primarilyRead MoreSwot Analysis Final Project Essay973 Words   |  4 PagesANALYSIS APPLE INC. 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