Beats Electronics has announced that it has completed its long rumored acquisition of MOG music, reports USA Today. Terms of the deal have not been made public, although negotiations were known to have started as far back as March.
Beats, which is part owned by HTC and forms an integral part of their
smartphone lineup, plans on making the MOG music experience part of its
end-to-end music experience.
Beats was
created as a response to the complete erosion of the music experience,
said Beats' president and CEO Luke Wood. Our whole reason for starting
Beats was to try to bring emotion back into that experience. We believe
music services is a vital part of that ecosystem.
MOG was founded
in 2005 and competes with a number of similar online music services
including Spotify and Rdio. It offers over 16 million tunes in its
catalog, all streaming at 320 kbps. According to Beats CEO Wood, one of
the reasons it was keen to acquire MOG was that it was the first such
company to offer its MP3s at the higher quality bit rate as it cared
about the sound quality it was offering, aligning with Beats philosophy.
It is thought that HTC will integrate the MOG service
into its smartphones, further enhancing its music-centered approach
attracting potential smartphone buyers. The companys first attempt, the
HTC Listen service, failed to catch on with consumers partly because it
was limited to being listened to on HTCs devices only. One of the
advantages of the MOG platform is that it works across multiple devices,
allowing users to enjoy their music across platforms thereby broadening
its appeal.
8:23:00 AM
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