Monster No Longer Making Beats By Dre Headphones
Beats By Dre headphones have become ubiquitous, whether in music videos or on the street. Despite its success, there is an impending shake up at the company. Business Week reports that Beats Electronics, co-owned by Jimmy Iovine and Dr. Dre, has decided not to renew its five year contract with Monster Cable Products, which is up at the end of year.
It seems like the split, which both companies say was on good terms, is over who gets credit for Beats By Dre’s success, with the latter seeking a bigger share of revenues. Monster will go forward with its own line of headphones, including models branded with Earth, Wind & Fire and Miles Davis. Beats still has ties with HTC smartphones, HP computers and audio systems in cars like the Chrysler 300.
“We have very big ambitions for Beats beyond headphones,” says Iovine. “Music has got to succeed on the phone or else the record industry will never thrive.”