Beats is moving out of its comfort zone and will be stepping into the streaming music business when they bought the MOG music streaming service.
Rumors have already spread earlier this year regarding Beats Audio purchasing the company. But Beats only confirmed the acquisition, which by the way is the company’s first, when they paid about $10 million for the music streaming company.
Beats said that MOG will remain as is with no changes being planned as of yet.
MOG is one of the popular brands when it comes to music streaming in the US. MOG currently has about 15 million tracks in its library. MOG is accessible through apps on both the iOS and Android.
Beats was acquired by HTC for nearly $300 million. HTC is rumored to be looking for their own music streaming service.
But with this development, it remains unclear whether HTC will still continue to look for one or would they incorporate MOG into it Beats Audio enables headsets.
Luke Wood president of Beats said, “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,” he added.
Image Source: holywoodreporter.com
