Apple has officially announced that it will acquire Beats Music and Beats Electronics for a whopping $3 billion. According to Apple's press release, the Cupertino-based company will buy the two mentioned companies for a total of $3 billion, "consisting of a purchase price of approximately $2.6 billion and approximately $400 million that will vest over time." As part of the acquisition, Beats co-founders Jimmy Iovine and Dr. Apple has also expressed that Beats Music, even with its small subscriber base of about 110,000 (for comparison, Spotify has 10 million), will play an important role in its future plans for digital music. "The addition of Beats will make our music lineup even better, from free streaming with iTunes Radio to a world-class subscription service in Beats, and of course buying music from the iTunes Store as customers have loved to do for years." said Eddy Cue, Apple’s senior vice president of Internet Software and Services. Apple will also bring the Beats product lineup to many more countries through the Apple Online Store, Apple’s retail stores and select Apple Authorized Resellers. Read more in our articles including "It's official! Apple buying Beats for $3 billion" and "Apple iPhone 12, 12 mini in Purple now official".
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Apr 24, 2020Apple has officially announced that it will acquire Beats Music and Beats Electronics for a whopping $3 billion. According to Apple's press release, the Cupertino-based company will buy the two mentioned companies for a total of $3 billion, "consisting of a purchase price of approximately $2.6 billion and approximately $400 million that will vest over time." As part of the acquisition, Beats co-founders Jimmy Iovine and Dr.
Apple has also expressed that Beats Music, even with its small subscriber base of about 110,000 (for comparison, Spotify has 10 million), will play an important role in its future plans for digital music. "The addition of Beats will make our music lineup even better, from free streaming with iTunes Radio to a world-class subscription service in Beats, and of course buying music from the iTunes Store as customers have loved to do for years." said Eddy Cue, Apple’s senior vice president of Internet Software and Services. Apple will also bring the Beats product lineup to many more countries through the Apple Online Store, Apple’s retail stores and select Apple Authorized Resellers.
Our coverage of apple beats acquisition includes: "It's official! Apple buying Beats for $3 billion"; "Apple iPhone 12, 12 mini in Purple now official"; "Apple Event gets an official date". Each article provides unique insights and information.