Apple is buying Beats for $3 billion. Meanwhile, Beats Electronics is facing multiple lawsuits that are currently playing out. An early Beats co-founder and MOG’s founder both say Beats is trying to get away with not paying them money they are owed.
Audio company Monster developed the original headphones and was Beats’ distribution partner. Thanks to a bad contract, they lost all stakes in Beats when HTC bought a large portion of the company.
Now, Monster competes with Beats by selling similar-looking headphones.
Noel Lee, head of Monster, has issued a statement regarding Apple’s acquisition of Beats. He’s also taken the opportunity to try and sell the Monster brand to us.
Apple acquires a Monster: A statement from Noel Lee, Head Monster, Monster Products, Regarding the Apple Acquisition of Beats
“Wow, a 3 billion dollar deal for Beats is an incredible achievement for Jimmy and Dre. We are glad to see that the company that we started together would turn into a Monster. The size of this investment shows what can be possible with Monster with our own new technologies in the headphone and speaker space. We look forward to our future collaborations that opens our eyes to how companies like ours can be valued as a part of youth and music culture. It will be exciting to see how this marriage will explode the portable music category once again. Monster will indeed play an important role for bringing incredible music experiences to consumers, as it did when Monster created Beats.
For the first 5 years, until 2013, Monster was Beats, having developed, engineered, and distributed all of the Beats products. Our license with Beats ended with the purchase of Beats by HTC.
Monster had to turn over all of the IP, manufacturing and distribution (retail channel relationships) in 2013.
Monster has developed many new and advanced products that are appearing on the market now
As for Monster, we have become a platform for creativity, innovation and collaboration. Our partnerships range from luxury with Lamborghini and Hublot to lifestyle products with adidas Originals to be introduced during the upcoming World Cup, and the stunning 24K™ headphone evangelized by hip hop artist Meek Mill. Our sports collaborations include the UFC, the World Poker Tournament, World Series of Poker, as well as Caesars entertainment.
We have moved on to very advanced headphone technologies called Pure Monster Sound™ that bring the listeners closer to the music. These technologies are incorporated in our DNA™, Ntunes™, iSport®, Diamondz™ and Inspiration™ headphones that target even a wider audience, as well as exciting new products like Superstar™, the world’s smallest audiophile speaker, and PowerCard™, the credit card sized super charger for phones and tablets. Please check out these new products at Monsterproducts.com.
The future is bright for music, streaming or otherwise. I want to thank Jimmy and Dre for pioneering the way in marketing and Beats Music, and putting a spotlight to the value of companies in our space. We will find the collaborations and opportunities that will change the game once again.”
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Nina Ulloa covers breaking news, tech, and more. Follow her on Twitter: @nine_u