Hear that? Beats Electronics officially buys MOG


Originally posted on VentureBeat:

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Streaming music service MOG was officially acquired by audio hardware company Beats Electronics today, reports USA Today.

MOG is a subscription-based streaming music service that’s similar to Rdio, Rhapsody, and Spotify. It offers a free ad-supported version of the service, an ad-free $4.99 per month web subscription, and an ad-free $9.99 per month web/mobile device subscription. The purchase by Beats comes after months of rumors that MOG was up for sale, which the music service half-denied.

It was initially thought that MOG sold for around $14 million, but the USA Today post notes that the final price was significantly higher.

So why did Beats go after MOG instead of one of the other services?

Beats said that MOG was an attractive purchase because it was the first music service to offer its entire 16-million-song catalog in the 320 kbps format as well as its ability to scale…

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