The mission statement of Beats by Dr Dre speaks volumes for the headphones and speakers it offers. With their innovation in the music world, " people are going to hear what the artists hear, and listen to the music the way they should. Founded barely 6 years ago in 2006, the Santa Monica based store is now a leading company with their headphones forming around 53 percent of the market transactions of products in the same category.
A hip-hop/rap musician, Dre's real name is Andre Young. He and his partner introduced his first head phones in the market in partnership with Monster Cable. His partner is Jimmy Lovine who is the chairman of Interscope-Geffen-A&M Records. The head phones presented by them could play the entire spectrum of sounds that is accessible only in professional studios. At first the two friends were considering the production of speakers. They ended up making head phones instead because Monster Cable thought it to be more profitable. This is now a prominent brand, and leading its competitors so far.
Today Beats store is offering speakers and Beatbox portable along with a variety of headphones. They have also collaborated with HTC, HP and Chrysler on some projects, and licensed these companies to use their brands. HTC smart phones have now got Beats audio system installed in them. HP computers have also incorporated these speakers in their Envy laptops. Chrysler has installed this sound system in its 300S luxury cars.
The initial contract of this company with Monster expired early this year. After that they became partners with HTC. It is interesting to know that HTC owns over half of the shares of this company. The two pioneering entrepreneurs, Young and Lovine hold only small shares.
However, this is still an autonomous body. Another step of this business is the acquiring of the online music service Music on the Go (MOG). MOG provides high quality music online, which is in sync with their mission statement.
Popular musicians have remained part of their advertising campaign. This helped attract youth to their products. Now their market has been expanded to older people as well as professionals. The installation of Beats audio system in Chrysler has helped significantly in expanding their target market.
Beats by Dr Dre has managed to become a leading and top contributing company within a short time span of barely six years. Other companies are improving their products to match their innovation. Let's see for how long are they able to maintain their status as the ace.
A hip-hop/rap musician, Dre's real name is Andre Young. He and his partner introduced his first head phones in the market in partnership with Monster Cable. His partner is Jimmy Lovine who is the chairman of Interscope-Geffen-A&M Records. The head phones presented by them could play the entire spectrum of sounds that is accessible only in professional studios. At first the two friends were considering the production of speakers. They ended up making head phones instead because Monster Cable thought it to be more profitable. This is now a prominent brand, and leading its competitors so far.
Today Beats store is offering speakers and Beatbox portable along with a variety of headphones. They have also collaborated with HTC, HP and Chrysler on some projects, and licensed these companies to use their brands. HTC smart phones have now got Beats audio system installed in them. HP computers have also incorporated these speakers in their Envy laptops. Chrysler has installed this sound system in its 300S luxury cars.
The initial contract of this company with Monster expired early this year. After that they became partners with HTC. It is interesting to know that HTC owns over half of the shares of this company. The two pioneering entrepreneurs, Young and Lovine hold only small shares.
However, this is still an autonomous body. Another step of this business is the acquiring of the online music service Music on the Go (MOG). MOG provides high quality music online, which is in sync with their mission statement.
Popular musicians have remained part of their advertising campaign. This helped attract youth to their products. Now their market has been expanded to older people as well as professionals. The installation of Beats audio system in Chrysler has helped significantly in expanding their target market.
Beats by Dr Dre has managed to become a leading and top contributing company within a short time span of barely six years. Other companies are improving their products to match their innovation. Let's see for how long are they able to maintain their status as the ace.
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