Beats By Dre Are Expanding Into Digital Music Service, Call It Daisy, Paid Subscription Service

Popular record producer and rapper Dr. Dre has expanded his music audio products and equipment company Beats Electronics and now will be delving into the world of digital music service.

Beats By Dre is the brand under which the company Beats Electronics produces its products. The company's revenue turnover in 2011 was 350 million. The company was founded by Dr. Dre and chairman of Interscope-Geffen-A&M Records, Jimmy Iovine.

 In 2012, the company acquired the online music service MOG for $10-$16 million. Beats By Dre's original product were their own licensed headphones where listeners will be able to hear all the music which a normal headphone will not be able.

After the acquisition, they have overhauled MOG and have hired a music industry veteran, Ian Rogers. He will be heading the music service that has been renamed as Daisy.

"Right now, these things are all utilities. It's give me your credit card, here's 12 million songs, good luck," Iovine said. "We have an entire generation that was brought up on sound being inferior, and sound is the only conduit for emotion that we have. We've had ten very bad years in the audio industry. So we want the best possible quality, and it will have global scale. So it will be a balance of those things," said Rogers, HipHopDX reported.

"We have to opportunity to create a trusted brand in music. To be honest, we'll release the product when it's ready, but we're looking at the second half of this year. I'll remain Executive Chairman and remain member of Board [at Topspin]," Rogers stated. "We're also announcing today that Beats is making a strategic in Topspin as well, so it means great things for Topspin as well," Rogers added.

Daisy will be a paid subscription service that will be offering listeners up to 12 million songs. MOG was selected as it had high quality streams that go well with the standards of Beats By Dre.