APPLE BUYS HIP HOP’S BEATS BY DR. DRE
Apple has acquired Beats by Dr. Dre. for a reported $3.2 billion, which is a first for hip-hop. Beats was created by Dr. Dre and Jimmy Iovine 5 years ago, and it has grown into the largest music maker of headphones. From sports celebrities, to music celebrities everyone has a pair the Beats headphones, and now Apple will own Beats. According many business reports, this is Apple’s biggest acquisition for a company, with a net worth of $150 billion in cash, for Apple to spend $3.2 billion in the music industry illustrates that it is venturing off into a new area in order to stay competitive and head. I believe that this is a good for Apple, because this was the first company to digitize music through Itunes and remains at the top in music downloads; acquiring Beats head set will allow Apple to set the tone for other tech companies that will want to venture into the music industry in the future. What Apple will do with Beats by Dre is yet to be determined, with Apples history of being innovative, we can assume that Apple will find away to make Beats by Dre spectacular as their products.