After months of speculation, headphone manufacturer Beats has finally acquired music subscription service MOG. The ink is now dry on a buyout that could be a real boon for Beats, its parent company HTC, and its celebrity founders, Dr. Dre and Jimmy Iovine.
“This was never about just headphones,” explained Beats president and COO Luke Wood. “We’ve since expanded the Beats mission to every other link in the music experience chain – speakers, mobile phones, personal computers and automobile sound systems. With MOG, we are adding the best music service to the Beats portfolio for the first truly end-to-end music experience.”
MOG just couldn’t ultimately compete with subscription services like Spotify, and their numbers are rumored to be dangerously low. But with this buyout, Beats could integrate their own product–which is starting to overtake those little white earbuds–with its own music service, a la Apple.
The terms of the deal haven’t been released, but sources state that MOG will continue to operate “with no immediate changes.” [Digital Music News]