Popular headphone and sound accessory creators Beats By Dre and founder have decided not to renew its five-year contract with Monster when it ends late this year.
According to BusinessWeek.com the partnership, which debuted its first headphones in 2009 under an exclusive license agreement, has reportedly turned sour over financial terms and who, Monster or Beats, should receive more credit over the incredible international success of the headphones. Although Dre and fellow Beats business partner Interscope Geffen A&M Chairman are the proverbial faces of the line its Noel Lee, Monster chief executive and Monster as a company, who feel they should be given credit.
“They [Dre and Jimmy Iovine] wanted to do speakers and I said, ‘The new speaker is the headphone,’ ” says Lee.Beats By Dre are already preparing for a future without Monster with plans to expand into TVs and specialised audio gear for athletes. “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.”
Monster will be releasing eight lines of headphones to compete with its former partner Beats reign in the headphone market. (View a couple below)