The merger has been finalised between Apple and Beats by Dre. The buyout is reportedly worth a total of $3 billion: $2.6bn in cash and $400m in equity for beats music.
Strangely, Apple has decided to keep the Beats brand, an uncommon thing for the company who so intensively markets their own products, highlighting their personal brand as an important advancement for their products.
Enter ‘cool’ factor: apple “became one of the world’s largest technology companies by creating huge, new consumer electronics categories with the iPhone and iPad. But it hasn’t introduced a breakthrough product since co-founder Steve Jobs died in 2011.”
But Apple isn’t succeeding with implementing iTunes Radio, with competitors such as Pandora and Spotify leading in music streaming services. So it’s a good thing that Beats’ comes with a streaming service, boasting 250,000 paid subscribers
“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.”
source via YourEDM