Dr. Dre's Company Beats Electronic Acquires Streaming Service MOG
The company that creates the Beats By Dr. Dre headphone line has officially acquired streaming music service, MOG.
MOG, which is a streaming music service that offers over 16 million songs, will now be a part of the Beats Electronics stable of companies.
MOG appears to be an integral part of Beats’ strategy moving forward, according to the company’s CEO Luke Wood.
“Beats was created as a response to the complete erosion of the music experience,” Beats’ president and chief operating officer Luke Wood told USA Today. “Our whole reason for starting Beats was to try to bring emotion back into that experience. We believe music services is a vital part of that ecosystem.”
The terms of the deal were not disclosed, but, according to reports, MOG will continue to operate as before.
“A music delivery service connected with Beats products completes an audio connection,” Wood told USA Today. “This really gets us back to the beginning of the music experience, which is actually the discovery and the environment to consume the content.”
Beats Electronics was founded in 2006 by super-producer Dr. Dre and Interscope CEO Jimmy Iovine.
The company sold itself to HTC in August 2011 for $300 million.