Monster is looking for its cut of the Beats acquisition. Photo: Beats
Monster Inc, the company that help co-design the original Beats by Dr. Dre headphones, is suing Beats Electronics along with cofounders Dr. Dre and Jimmy Iovine for allegedly stealing its headphone technology.
The company, known for its overpriced audio cables, filed a lawsuit this week in San Mateo California, claiming Beats and its founders screwed the it out of millions of dollars before the company was sold to Apple last year for $3 billion. According to court documents obtained by USA Today, Monster says Beats concealed its role in the designing and engineering the headphone line, as well as its part in the manufacturing, distributions and selling of the headphones.
Could more exclusives be in iTunes’ future? Photo: Jim Merithew/Cult of Mac
Beats co-founder Jimmy Iovine is in fresh talks with the world’s top musicians, in hopes of landing more exclusive album deals for iTunes, reports The New York Post.
Apple is looking to replicate the success Beyonce had with her exclusive iTunes album in December 2013, by signing other hot artists to drop their albums early on Beats Music and iTunes. But according to industry sources, the idea of artists making side deals with streaming services is not going over well with record label executives.
Jimmy Iovine, Tim Cook, Andre “Dr. Dre” Young, and Eddy Cue. Photo: Apple
GQ Magazine has named Apple exec and Beats cofounder, Jimmy Iovine, as one its Men of the Year. To go with the annual honors, the music legend sat down for an interview to discuss how he went from sweeping floors in a New York recording studio at 19, to creating the iconic Beats brand at 55.
Apple acquired Iovine’s company for a record $3 billion earlier this year, but according to Jimmy, it took him about two years to convince Apple that they needed him to plug the musical hole Steve Jobs left when he died in 2011.
In an interesting Wall Street Journal profile of Beats founders Jimmy Iovine and Dr. Dre, the two music industry vets and current Apple employees describe their new $70m undergraduate academy at the University of Southern California as a training ground for future Apple and Beats employees.
“We wanted to build a school that we feel is what the entertainment industry needs right now,” Iovine is quoted as saying. “There’s a new kid in town, and he’s brought up on an iPad from one and a half years old. But the problem with some of the companies up north [in Silicon Valley] is that they really are culturally inept.”
“I’ve been shocked at the different species in Northern and Southern California—we don’t even speak the same language. The kid who’s going to have an advantage in the entertainment industry today is the kid who speaks both languages: technology and liberal arts. That’s what this school is about.”
Jimmy Iovine, Tim Cook, Andre Young and Eddy Cue. Photo: Apple
Apple’s new headphone company received an official ban from the NFL this season, prohibiting the Beats cans from being worn at games or official press conferences, and Beats co-founder Jimmy Iovine couldn’t feel more lucky.
Iovine was the keynote speaker today at the University of Southern California’s Global Conversation, and according to Business Insider, he told the audience that the NFL’s decision to ban Beats at the behest of Bose was an inept move that’s turned Beats into a superhero.
Apple today officially welcomed Beats Music and Beats Electronics to its family, along with Beats co-founders Jimmy Iovine and Dr. Dre, following its $3 billion takeover back in May.
“Music has always held a special place in our hearts, and we’re thrilled to join forces with a group of people who love it as much as we do,” reads an announcement on Apple.com, while those buying products from the Beats website will now be routed through the Apple Store.
Apple is finalizing its acquisition of Beats Electronics ahead of the August 1st closing date, and while most of Beats’ top talent will be migrating to the mothership, about 40% of Beats’ global workforce will be cut during the transition.
Around 200 jobs at Beats Electronics will be cut as part of the merger, according to the NY Post, which reports offers were sent to from Apple to employees last week, some of which are just transitional offers with a set end date.
After getting tossed around by Samsung in the marketing ring the past few years, the NYPost reports that Apple is looking to Beats co-founder Jimmy Iovine to help it reignite its marketing magic, even if it means cutting ties on its 30-year partnership with TBWA.
Jimmy Iovine and Dr. Dre just made billions off Apple’s acquisition of Beats Electronics, but the company is ready to squeeze out a few billion more from a ring of Chinese knockoffs.
Legal filings from Beats claim that cheap counterfeit headphones are screwing the company out of billions of profits by using the company’s popular “b” logo to rake in an ungodly $135 billion in sales. Now the doctor wants his cut.
Hours after Apple secured its $3 billion acquisition of Beats, Eddie Cue and Jimmy Iovine took the stage at Code Conference to talk about the new partnership along with the state of tech and the future of Apple.
Eddie boasted Apple’s 2014 product pipeline is the best he’s seen in his 25 years at Apple, but the duo also dished on their decade long relationship, the state of streaming music services and what Apple might do to make the TV experience a lot less sucky.
The interview has finally been posted in full by Re/code and while it’s slim on Apple secrets it does provide a fascinating look at where the company might be heading.