Apparently, you can stop the music. BusinessWeek is reporting that Dr. Dre and Interscope Chairman Jimmy Iovine are planning to take their Beats by Dr. Dre line solo. The company will part ways with Monster when their contract expires at the end of this year.
Monster first debuted Beats by Dr. Dre headphones in 2009. Since then, it's become somewhat of a phenomenon, and has spawned a slew of celebrity-endorsed headphones and other electronics.
Despite what is reported to be an amicable split, it has to be a bit of a blow to Monster. According to the report, Beats had 53 percent of the headphone market last year, with about $1 billion in sales.
Once the split is finalized, Beats will retail all rights to the brand and the technology.
Besides Beats by Dr. Dre-branded headphones, the line also includes the Artist Series. This effort branched the line out to include other headphones branded with famous names, including Sean "Diddy" Combs, Lady Gaga and Lebron James. At this week's Consumer Electronics Show, the Beats brand announced plans to enter a new partnership that will put a Beats by Dr. Dre audio system into the 2012 Dodge Charger.
However, Monster doesn't seem too worried about the loss. "We're competing with ourselves," said Monster's Noel Lee. "We can be the Apple of the headphones space, with or without Beats."
Monster will continue to manufacturer the Beats By Dr. Dre line until the contract runs out at the end of 2012, so there's still time to grab a pair (or two) before the company changes up. If you're trying to decide between the models, check out our reviews of the Monster Beats Tour By Dr. Dre In-Ear Headphones and the Monster Beats By Dr. Dre Studio Headphones. More recently, our own Garvita Kapur took a peek at the Heartbeats by Lady Gaga In-Ear Headphones.
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