Beats (brand)

Beats Electronics (also known as Beats by Dre, Beats by Dr. Dre or simply Beats) is an American consumer audio products and accessories manufacturer headquartered in Culver City, California. The company was founded in 2006 by the music producer Dr. Dre and the co-founder of Interscope Records and former CEO of Interscope Geffen A&M, Jimmy Iovine. Beats was acquired by Apple in 2014, where they have used Beats to release other products centered around Apple's ecosystem, but are released under the name of Beats. Beats' product line is primarily focused on headphones, speakers, and accessories. The company's original product line was manufactured in partnership with the AV equipment company Monster Cable Products. Following the end of its contract with the company, Beats took further development of its products in-house. In 2014, the company expanded into the online music market with the launch of a subscription-based streaming service, Beats Music. In 2011, NPD Group reported that Beats' market share was 64% in the U.S. for headphones priced higher than $100, and the brand was valued at $1 billion in September 2013. For a period, the company was majority-owned by the Taiwanese electronics company HTC. The company reduced its stake to 25% in 2012, and sold its remaining stake back to the company in 2013. Concurrently, the Carlyle Group replaced HTC as a minority shareholder, alongside Dr. Dre and Iovine in late 2013. In May 2014, Apple announced it would acquire Beats for $3 billion in a cash and stock deal, the largest acquisition in Apple's history. As of May 2025, Apple including Beats remained the global true wireless stereo (TWS) leader with 23% market share in Q1 of 2025.