Emerging reports suggest that Beats Electronics, popularly associated with Dr. Dre and HTC, has now acquired MOG (Music on the go), which is a popular paid social networking/music subscription service. With MOG having troubles keeping up with services like Spotify, the buyout could be beneficial in many ways. The deal was finalized today and both the companies have come to a mutual agreement. As for the existing MOG users, things couldn’t get better given Beats’ expertize and exposure in the field. HTC, which holds a 51% stake at Beats Electronics, was rumored to acquire the service through Beats back in March this year.
Luke Wood, the CEO of Beats Electronics had this to say in an official statement – “[Beats] was never about just headphones. We’ve…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. With their talent and technology, the possibilities around future innovation are endless”.
Wood was all praises for MOG and detailed the decision to choose MOG in his interview with USA Today – “They were the first service to offer their entire catalog in the 320-kilobit format. I also think they were the most progressive and the first service to be really committed to multiple access points in the deals they did with LG and Samsung for the TV and BMW for the car (and) they were very quick to push music to the smartphone”.
MOG serves a wide range of users with a dedicated iOS and Android app, much like Spotify. It has over 15 million songs in its inventory, which is rumored to be integrated with Beats. There is no info on the exact amount of the acquisition, but it is being claimed by the LA Times that it’s somewhere along the lines of $10 million. It will be interesting to see what the two companies come up with.
Category: Tech News