Now that Jimmy Iovine and Dr. Dre are apparently on the verge of selling Beats to Apple for $3.2 billion, it's worth revisiting this post from over a year ago, but mostly I want to commend them on finding the most successful music video model since MTV.
The Beats monolith was built one video at a time, first with headphones and now with the music app... In fact, it often seemed like most UMG rap/pop videos over the past few years were part of a stealth campaign to sell the Beats By Dre brand.
Gizmodo has a fantastic article about how the cable/audio manufacter Monster came together with Beats By Dre to make lots of headphones and lots of money, only to then get left in the dust to an awful business deal.
Worth reading, and re-posting here, for a few key reasons:
- Music Videos Work! — Beats By Dre have been the most ubiquitous product placement in music videos since their 2008 launch. And guess what? All that exposure worked. Beats became the luxury accessory that was somewhat affordable (sorry, Maybach) and actually served a purpose besides looking cool (sorry, Louis Vuitton). And now: Apple is apparently plunking down $3.2 billion.
- Sometimes Music Beats Tech — How many stories have there been about the short-sighted music industry, losing to Apple or some other tech company? This time, Interscope head Jimmy Iovine reportedly cut a deal that let them make a ton of money while owning all the patents and trademarks. Monster took all the risk, had to do all the manufacturing and distribution and then got left in the dust.
Hopefilly somebody took my advice to sign Gizmodo's Sam Biddle to a book deal, because everyone loves a $3.2 billion happy ending...
