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Apple’s Purchase of Beats Electronics Signals a Change

Posted by Super User
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on Monday, 12 May 2014
in Blog Posts

Last week, news of Apple’s upcoming $3.2 billion purchase of Beats Electronics, the company formed in 2008 by Dr. Dre and Jimmy Iovine, was leaked to the press.  Neither Apple, nor Beats Electronics have confirmed this news, but Dr. Dre’s announcing that he’s the “first billionaire in hip-hop” would seem to provide confirmation of this leak.

Musicians’ images have been used for years to endorse products (see what Elvis Presley or Frank Sinatra are selling, nowadays), but this reported purchase of Beats Electronics represents something new for the music industry: the large-scale purchase of a musician-created brand.  Certainly, many musicians have diversified their business well outside of music in the past, but Apple’s purchase of a musician-owned mega-brand by an even larger mega-brand is unprecedented.

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